Mitek Systems (NASDAQ:MITK) Issues Earnings Results

Mitek Systems (NASDAQ:MITK) released its quarterly earnings data on Monday. The software maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16, Briefing.com reports. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The company had revenue of $43.22 million for the quarter, compared to analysts’ expectations of $41.30 million. The company’s revenue was up 14.8% on a year-over-year basis. Mitek Systems updated its FY 2025 guidance to EPS.

Mitek Systems Stock Performance

MITK traded up $0.71 during trading on Monday, hitting $9.49. The stock had a trading volume of 1,849,421 shares, compared to its average volume of 541,161. 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 has a market capitalization of $438.48 million, a P/E ratio of -58.53 and a beta of 1.12. The company’s 50-day moving average price is $9.02 and its 200 day moving average price is $9.94. Mitek Systems has a twelve month low of $7.35 and a twelve month high of $16.24.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MITK shares. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.13.

Insider Buying and Selling at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total value of $30,145.60. Following the sale, the senior vice president now directly owns 65,353 shares in the company, valued at $593,405.24. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael E. Diamond sold 4,544 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the sale, the insider now owns 166,632 shares in the company, valued at $1,514,684.88. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is owned by company insiders.

Mitek Systems Company Profile

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.