Mitek Systems (MITK) to Release Earnings on Thursday

Mitek Systems (NASDAQ:MITK – Get Rating) is scheduled to be releasing its earnings data after the market closes on Thursday, April 28th. Analysts expect Mitek Systems to post earnings of $0.13 per share for the quarter.

Mitek Systems (NASDAQ:MITK – Get Rating) last issued its quarterly earnings results on Thursday, January 27th. The software maker reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.10. The firm had revenue of $32.47 million during the quarter, compared to analysts’ expectations of $28.53 million. Mitek Systems had a net margin of 7.42% and a return on equity of 15.74%. Mitek Systems’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. On average, analysts expect Mitek Systems to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NASDAQ:MITK opened at $13.01 on Friday. The stock has a market cap of $576.32 million, a P/E ratio of 61.96 and a beta of 0.45. The firm has a fifty day moving average price of $14.30 and a 200 day moving average price of $16.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 5.75 and a quick ratio of 5.75. Mitek Systems has a 1-year low of $12.87 and a 1-year high of $23.29.

In other Mitek Systems news, CTO Stephen Ritter sold 2,840 shares of Mitek Systems stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $14.20, for a total transaction of $40,328.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scipio Maximus Carnecchia sold 9,957 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $14.20, for a total transaction of $141,389.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,958 shares of company stock valued at $240,815. 5.40% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MITK. Jane Street Group LLC acquired a new position in shares of Mitek Systems in the third quarter valued at approximately $429,000. UBS Group AG raised its position in shares of Mitek Systems by 62.4% in the third quarter. UBS Group AG now owns 30,029 shares of the software maker’s stock valued at $555,000 after buying an additional 11,538 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Mitek Systems by 11.3% in the fourth quarter. Parametric Portfolio Associates LLC now owns 32,968 shares of the software maker’s stock valued at $585,000 after buying an additional 3,353 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Mitek Systems in the fourth quarter valued at approximately $668,000. Finally, Norges Bank purchased a new stake in Mitek Systems in the fourth quarter valued at approximately $793,000. 66.20% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on MITK. Northland Securities decreased their price target on shares of Mitek Systems from $24.00 to $20.00 in a research note on Wednesday. Zacks Investment Research downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 6th. Maxim Group started coverage on shares of Mitek Systems in a report on Friday, March 25th. They issued a “buy” rating and a $28.00 target price on the stock. Finally, StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mitek Systems presently has a consensus rating of “Buy” and an average price target of $23.50.

Mitek Systems Company Profile (Get Rating)

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 web browsers to facilitate digital consumer experiences.

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