Mitek Systems, Inc. (NASDAQ:MITK) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.75.
A number of equities analysts have recently commented on MITK shares. ValuEngine downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. BidaskClub raised shares of Mitek Systems from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, September 25th. Finally, Roth Capital set a $14.00 price objective on shares of Mitek Systems and gave the stock a “buy” rating in a report on Friday, July 19th.
In related news, insider Jason Gray sold 8,753 shares of Mitek Systems stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.84, for a total transaction of $86,129.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Ritter sold 15,000 shares of Mitek Systems stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.93, for a total transaction of $148,950.00. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
NASDAQ MITK traded up $0.06 during midday trading on Wednesday, hitting $10.01. The company had a trading volume of 194,693 shares, compared to its average volume of 388,592. The stock has a market cap of $401.97 million, a price-to-earnings ratio of 76.96, a P/E/G ratio of 2.59 and a beta of -0.16. The firm has a fifty day simple moving average of $9.74 and a two-hundred day simple moving average of $10.41. Mitek Systems has a fifty-two week low of $6.32 and a fifty-two week high of $13.07.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Thursday, July 25th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $21.91 million for the quarter, compared to analyst estimates of $21.74 million. Mitek Systems had a negative net margin of 7.61% and a positive return on equity of 6.33%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. As a group, research analysts anticipate that Mitek Systems will post 0.16 EPS for the current year.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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