Shares of Mitek Systems, Inc. (NASDAQ:MITK) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.25.
Several equities research analysts have recently commented on MITK shares. TheStreet downgraded Mitek Systems from a “b-” rating to a “c” rating in a report on Thursday, February 4th. Zacks Investment Research downgraded Mitek Systems from a “hold” rating to a “sell” rating in a report on Thursday, November 12th. Finally, Maxim Group restated a “buy” rating and set a $25.00 price objective on shares of Mitek Systems in a report on Wednesday, February 10th.
In other Mitek Systems news, insider Michael E. Diamond sold 43,368 shares of the business’s stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $13.24, for a total value of $574,192.32. Following the transaction, the insider now owns 192,517 shares of the company’s stock, valued at $2,548,925.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jane J. Thompson sold 50,000 shares of the business’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $13.48, for a total value of $674,000.00. Following the completion of the transaction, the director now directly owns 100,181 shares in the company, valued at approximately $1,350,439.88. The disclosure for this sale can be found here. Insiders have sold 256,817 shares of company stock valued at $3,836,266 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Cowa LLC purchased a new position in Mitek Systems in the fourth quarter worth $34,000. Nisa Investment Advisors LLC purchased a new position in Mitek Systems in the third quarter worth $37,000. Financial Management Professionals Inc. purchased a new position in Mitek Systems in the third quarter worth $38,000. Altshuler Shaham Ltd purchased a new position in Mitek Systems in the third quarter worth $49,000. Finally, Lazard Asset Management LLC purchased a new position in Mitek Systems in the fourth quarter worth $76,000. 64.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mitek Systems stock traded down $0.22 during midday trading on Tuesday, reaching $15.67. The company had a trading volume of 24,282 shares, compared to its average volume of 978,593. The stock has a fifty day moving average price of $16.78 and a 200 day moving average price of $14.21. The firm has a market cap of $668.91 million, a PE ratio of 88.28 and a beta of 0.32. Mitek Systems has a fifty-two week low of $5.26 and a fifty-two week high of $19.88.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, January 28th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The firm had revenue of $25.98 million for the quarter, compared to analyst estimates of $25.26 million. Mitek Systems had a return on equity of 17.19% and a net margin of 7.71%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. Research analysts forecast that Mitek Systems will post 0.39 earnings per share for the current fiscal year.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and browsers to facilitate online user experiences, fraud detection and reduction, and compliant transactions.
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