Mitek Systems (NASDAQ:MITK) Stock Rating Upgraded by Wall Street Zen

Mitek Systems (NASDAQ:MITK) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mitek Systems in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Mitek Systems presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Mitek Systems Stock Up 20.5%

NASDAQ:MITK opened at $11.83 on Friday. Mitek Systems has a 12-month low of $6.93 and a 12-month high of $12.00. The stock’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $9.75. The firm has a market capitalization of $535.90 million, a P/E ratio of 33.80 and a beta of 1.07.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, February 5th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $44.24 million for the quarter, compared to analysts’ expectations of $42.44 million. Mitek Systems had a return on equity of 16.88% and a net margin of 8.67%. As a group, equities research analysts expect that Mitek Systems will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legato Capital Management LLC bought a new stake in shares of Mitek Systems in the fourth quarter valued at about $498,000. LSV Asset Management raised its holdings in shares of Mitek Systems by 11.1% during the 4th quarter. LSV Asset Management now owns 142,591 shares of the software maker’s stock worth $1,504,000 after buying an additional 14,300 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Mitek Systems by 4.5% during the 4th quarter. Independent Advisor Alliance now owns 1,225,119 shares of the software maker’s stock worth $12,925,000 after buying an additional 53,016 shares during the last quarter. Bailard Inc. acquired a new stake in Mitek Systems in the fourth quarter valued at about $281,000. Finally, International Assets Investment Management LLC bought a new position in Mitek Systems in the fourth quarter valued at about $1,124,000. 83.64% of the stock is owned by institutional investors and hedge funds.

More Mitek Systems News

Here are the key news stories impacting Mitek Systems this week:

• Positive Sentiment: Q1 results beat expectations: Mitek reported EPS of $0.26 vs. consensus ~$0.20 and revenue of $44.24M vs. ~$42.44M, showing a clear top- and bottom-line beat that typically prompts buying. Mitek Beats Q1
• Positive Sentiment: Raised FY & Q2 revenue guidance: Management updated FY2026 revenue to $187M–$197M (consensus ~$190.6M) and Q2 revenue to $50M–$55M (consensus ~$49.8M), implying growth visibility above Street estimates. This guidance lift is a primary reason for the rally. Press Release / Guidance
• Positive Sentiment: Management commentary and Q&A accessible: The earnings call transcript and slide deck provided clarity on drivers (product adoption, customer wins, and margin dynamics), helping reassure investors. Earnings Call Transcript
• Neutral Sentiment: Market reaction and liquidity: Trading volume spiked well above average while the stock moved higher, indicating the beat/guidance news drew broad market attention; higher volume can amplify moves in either direction. Market Activity
• Neutral Sentiment: Analyst outlook: Street models were updated after the print; consensus 2026 EPS estimates (~$0.59) and forward expectations will be key near-term drivers as investors re-rate multiples. Metric Comparison
• Negative Sentiment: Profitability and valuation caveats: Net margin remains modest (~4.9%) and the shares trade at a high P/E (~62x), which could limit upside if growth slows or guidance disappoints in future quarters. Earnings Details
• Negative Sentiment: Execution risk: As with many software firms, future performance depends on sustaining product adoption and converting guidance into actual bookings/recurring revenue — any hiccup could reverse the rally. Earnings Snapshot

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.