Mitek Systems (NASDAQ:MITK) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Mitek Systems (NASDAQ:MITK) issued its quarterly earnings data on Thursday. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.09, Briefing.com reports. The firm had revenue of $25.02 million for the quarter, compared to analyst estimates of $25.02 million. Mitek Systems had a negative net margin of 7.61% and a positive return on equity of 6.33%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 earnings per share.

Shares of NASDAQ:MITK traded down $1.70 during trading on Friday, reaching $8.10. The stock had a trading volume of 2,227,200 shares, compared to its average volume of 376,037. Mitek Systems has a 52 week low of $8.01 and a 52 week high of $13.07. The stock has a fifty day simple moving average of $9.70 and a two-hundred day simple moving average of $10.02. The firm has a market capitalization of $390.92 million, a price-to-earnings ratio of 62.31, a P/E/G ratio of 2.59 and a beta of -0.20.

Several equities analysts recently weighed in on the stock. ValuEngine lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Roth Capital set a $14.00 price target on shares of Mitek Systems and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BidaskClub lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.75.

In other news, insider Jason Gray sold 8,753 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $9.84, for a total value of $86,129.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael E. Diamond sold 3,868 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $9.48, for a total transaction of $36,668.64. The disclosure for this sale can be found here. Insiders have sold 14,046 shares of company stock worth $136,307 in the last quarter. Corporate insiders own 8.20% of the company’s stock.

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.

Featured Article: What is Put Option Volume?

Earnings History for Mitek Systems (NASDAQ:MITK)

Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.