Northland Capmk Lowers Earnings Estimates for Mitek Systems

Mitek Systems, Inc. (NASDAQ:MITK) – Investment analysts at Northland Capmk decreased their Q1 2025 earnings per share estimates for shares of Mitek Systems in a research report issued on Tuesday, December 17th. Northland Capmk analyst M. Grondahl now forecasts that the software maker will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Mitek Systems’ current full-year earnings is $0.56 per share. Northland Capmk also issued estimates for Mitek Systems’ FY2025 earnings at $0.64 EPS.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. StockNews.com downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, HC Wainwright increased their target price on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Mitek Systems currently has an average rating of “Moderate Buy” and an average target price of $12.63.

Mitek Systems Stock Performance

Shares of NASDAQ MITK opened at $11.43 on Friday. The company has a market cap of $492.53 million, a P/E ratio of -76.20 and a beta of 1.12. Mitek Systems has a 52-week low of $7.35 and a 52-week high of $16.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. The firm’s fifty day moving average is $9.18 and its two-hundred day moving average is $9.92.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Monday, December 16th. The software maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.16. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The firm had revenue of $43.22 million for the quarter, compared to analysts’ expectations of $41.30 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year.

Insiders Place Their Bets

In other Mitek Systems news, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the transaction, the senior vice president now owns 65,353 shares in the company, valued at $593,405.24. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jason Gray sold 6,222 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the sale, the insider now directly owns 164,342 shares in the company, valued at approximately $1,490,581.94. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,699 shares of company stock valued at $152,140 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MITK. Bank of New York Mellon Corp lifted its stake in shares of Mitek Systems by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 189,584 shares of the software maker’s stock worth $2,120,000 after acquiring an additional 24,970 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Mitek Systems by 22.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 195,315 shares of the software maker’s stock worth $2,184,000 after purchasing an additional 35,290 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Mitek Systems during the second quarter valued at $32,000. Principal Financial Group Inc. grew its holdings in shares of Mitek Systems by 13.6% in the second quarter. Principal Financial Group Inc. now owns 44,843 shares of the software maker’s stock worth $501,000 after purchasing an additional 5,373 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new position in Mitek Systems in the 2nd quarter worth about $833,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.