Mitek Systems (NASDAQ:MITK) announced its quarterly earnings data on Thursday. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05, Briefing.com reports. Mitek Systems had a return on equity of 4.74% and a net margin of 5.75%. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $20.09 million. During the same period in the prior year, the company earned $0.11 EPS. Mitek Systems’s revenue for the quarter was up 62.8% on a year-over-year basis. Mitek Systems updated its FY 2019 guidance to EPS.
MITK traded up $0.29 on Friday, reaching $9.62. The stock had a trading volume of 823,559 shares, compared to its average volume of 316,952. Mitek Systems has a fifty-two week low of $6.32 and a fifty-two week high of $10.10. The stock has a market cap of $303.51 million, a PE ratio of 45.81, a PEG ratio of 2.97 and a beta of 0.21.
Several analysts recently weighed in on the company. National Securities restated a “buy” rating and set a $17.50 price objective on shares of Mitek Systems in a research report on Sunday, July 29th. ValuEngine upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Benchmark downgraded Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Tuesday, August 28th. BidaskClub downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, TheStreet downgraded Mitek Systems from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $11.08.
In other news, Director James C. Hale III bought 20,000 shares of the stock in a transaction on Friday, August 31st. The stock was acquired at an average price of $7.17 per share, with a total value of $143,400.00. Following the acquisition, the director now directly owns 111,135 shares in the company, valued at $796,837.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James B. Debello sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $8.54, for a total value of $427,000.00. The disclosure for this sale can be found here. 8.52% of the stock is owned by corporate insiders.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.
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