MITK has been the topic of several other research reports. Zacks Investment Research downgraded Mitek Systems from a hold rating to a sell rating in a research note on Friday, December 23rd. BTIG Research assumed coverage on Mitek Systems in a research note on Thursday, December 8th. They issued a buy rating and a $10.00 price objective on the stock. Needham & Company LLC decreased their price objective on Mitek Systems from $9.50 to $8.00 and set a buy rating on the stock in a research note on Thursday, February 2nd. Finally, Roth Capital set a $9.00 price objective on Mitek Systems and gave the stock a buy rating in a research note on Tuesday, December 20th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $8.70.
Shares of Mitek Systems (NASDAQ:MITK) opened at 6.50 on Tuesday. Mitek Systems has a 52 week low of $5.26 and a 52 week high of $9.49. The stock has a market cap of $216.28 million, a price-to-earnings ratio of 130.00 and a beta of 2.33. The firm has a 50-day moving average price of $5.94 and a 200 day moving average price of $6.59.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Mitek Systems had a return on equity of 11.03% and a net margin of 4.58%. The firm had revenue of $9.30 million for the quarter, compared to the consensus estimate of $8.74 million. During the same quarter last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. On average, analysts forecast that Mitek Systems will post $0.28 EPS for the current fiscal year.
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In related news, Director Vinton Paul Cunningham sold 30,000 shares of Mitek Systems stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $5.87, for a total transaction of $176,100.00. Following the sale, the director now owns 181,600 shares of the company’s stock, valued at approximately $1,065,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.52% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP increased its stake in shares of Mitek Systems by 222.1% in the fourth quarter. GSA Capital Partners LLP now owns 50,240 shares of the company’s stock valued at $309,000 after buying an additional 34,640 shares during the period. Menta Capital LLC increased its stake in shares of Mitek Systems by 4.8% in the fourth quarter. Menta Capital LLC now owns 318,837 shares of the company’s stock valued at $1,961,000 after buying an additional 14,620 shares during the period. Renaissance Technologies LLC increased its stake in shares of Mitek Systems by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 150,649 shares of the company’s stock valued at $926,000 after buying an additional 4,413 shares during the period. Trexquant Investment LP acquired a new stake in shares of Mitek Systems during the fourth quarter valued at about $653,000. Finally, Oxford Asset Management increased its stake in shares of Mitek Systems by 753.5% in the fourth quarter. Oxford Asset Management now owns 194,515 shares of the company’s stock valued at $1,196,000 after buying an additional 171,724 shares during the period. 45.34% of the stock is currently owned by institutional investors.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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