Mitek Systems, Inc. (NASDAQ:MITK – Get Free Report) shares gapped up prior to trading on Friday. The stock had previously closed at $15.79, but opened at $16.96. Mitek Systems shares last traded at $16.5950, with a volume of 26,219 shares.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on MITK shares. Zacks Research downgraded shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Mitek Systems in a research note on Friday, August 7th. Wall Street Zen raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Maxim Group set a $26.00 price target on shares of Mitek Systems in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.33.
Check Out Our Latest Report on Mitek Systems
Mitek Systems Stock Performance
The firm has a market cap of $748.57 million, a P/E ratio of 35.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.74 and a current ratio of 2.74. The company’s 50 day moving average is $17.85 and its 200 day moving average is $16.83.
Mitek Systems (NASDAQ:MITK – Get Free Report) last issued its earnings results on Thursday, August 6th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The company had revenue of $54.04 million during the quarter, compared to the consensus estimate of $50.82 million. Mitek Systems had a return on equity of 19.16% and a net margin of 11.39%. As a group, equities analysts predict that Mitek Systems, Inc. will post 0.91 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mitek Systems
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MITK. Integrated Wealth Concepts LLC bought a new stake in shares of Mitek Systems in the second quarter worth approximately $42,000. SummitTX Capital L.P. bought a new position in shares of Mitek Systems during the 1st quarter worth $140,000. State of Alaska Department of Revenue boosted its position in shares of Mitek Systems by 8.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,744 shares of the software maker’s stock worth $148,000 after purchasing an additional 669 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Mitek Systems in the first quarter worth about $176,000. Finally, Bank of Nova Scotia purchased a new stake in Mitek Systems during the first quarter worth $299,000. 83.64% of the stock is owned by hedge funds and other institutional investors.
Mitek Systems Company Profile
Mitek Systems, Inc develops software for digital identity verification, fraud prevention and mobile banking. Its technology enables organizations to capture, authenticate and process information from checks, identity documents and other sources through smartphones and digital channels.
The company’s products include Mobile Deposit, which allows consumers to deposit checks remotely, as well as identity-verification and document-authentication solutions designed to support account opening, customer onboarding and ongoing access to digital services.
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