Mitek Systems (NASDAQ:MITK – Get Free Report) posted its earnings results on Thursday. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06, FiscalAI reports. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%.The company had revenue of $54.04 million for the quarter, compared to the consensus estimate of $50.82 million.
Mitek Systems Stock Down 1.9%
Mitek Systems stock traded down $0.32 during mid-day trading on Thursday, reaching $16.81. 502,521 shares of the company’s stock were exchanged, compared to its average volume of 925,245. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. Mitek Systems has a twelve month low of $8.53 and a twelve month high of $21.05. The company has a market cap of $759.14 million, a P/E ratio of 48.03 and a beta of 0.98. The company has a fifty day moving average of $17.69 and a 200-day moving average of $14.99.
Insider Activity at Mitek Systems
In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the completion of the transaction, the chief operating officer owned 244,279 shares in the company, valued at $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on MITK shares. Wall Street Zen lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Northland Securities set a $17.00 price target on shares of Mitek Systems in a research note on Wednesday, April 15th. Weiss Ratings raised shares of Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Zacks Research lowered Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.
View Our Latest Analysis on Mitek Systems
About Mitek Systems
Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.
The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.
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