Equities analysts predict that Mitek Systems, Inc. (NASDAQ:MITK) will report $11.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Mitek Systems’ earnings. The highest sales estimate is $11.51 million and the lowest is $11.21 million. Mitek Systems reported sales of $9.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.8%. The business is scheduled to report its next quarterly earnings report on Thursday, July 27th.

On average, analysts expect that Mitek Systems will report full year sales of $11.37 million for the current fiscal year, with estimates ranging from $44.2 million to $44.63 million. For the next fiscal year, analysts anticipate that the firm will post sales of $53.13 million per share, with estimates ranging from $52.2 million to $54.28 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Mitek Systems.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Friday, April 28th. The software maker reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The company had revenue of $11.40 million during the quarter, compared to the consensus estimate of $10.33 million. Mitek Systems had a net margin of 4.58% and a return on equity of 11.03%. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share.

Several equities analysts recently weighed in on MITK shares. Roth Capital set a $9.00 target price on shares of Mitek Systems and gave the company a “buy” rating in a research note on Wednesday, March 22nd. Benchmark Co. reissued a “buy” rating on shares of Mitek Systems in a research note on Tuesday, March 21st. TheStreet raised shares of Mitek Systems from a “c+” rating to a “b” rating in a research note on Friday, April 28th. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Thursday, March 23rd. Finally, Needham & Company LLC decreased their target price on shares of Mitek Systems from $9.50 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 2nd. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $8.70.

Mitek Systems (NASDAQ:MITK) traded up 4.07% during mid-day trading on Wednesday, reaching $8.95. 298,817 shares of the company’s stock traded hands. The stock has a market cap of $298.69 million, a P/E ratio of 129.71 and a beta of 2.33. Mitek Systems has a 1-year low of $5.26 and a 1-year high of $9.49. The firm has a 50-day moving average price of $7.23 and a 200-day moving average price of $6.45.

In other Mitek Systems news, insider Jason Gray sold 7,789 shares of Mitek Systems stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $8.20, for a total transaction of $63,869.80. Following the completion of the transaction, the insider now directly owns 87,211 shares of the company’s stock, valued at $715,130.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vinton Paul Cunningham sold 30,000 shares of Mitek Systems stock in a transaction 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 transaction, the director now directly owns 181,600 shares of the company’s stock, valued at $1,065,992. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,469 shares of company stock valued at $262,884. Company insiders own 8.52% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Thomson Horstmann & Bryant Inc. purchased a new stake in Mitek Systems during the first quarter worth $3,874,000. Skylands Capital LLC increased its stake in Mitek Systems by 55.6% in the first quarter. Skylands Capital LLC now owns 588,700 shares of the software maker’s stock worth $3,915,000 after buying an additional 210,332 shares in the last quarter. S Squared Technology LLC increased its stake in Mitek Systems by 80.7% in the fourth quarter. S Squared Technology LLC now owns 389,718 shares of the software maker’s stock worth $2,397,000 after buying an additional 174,018 shares in the last quarter. Oxford Asset Management increased its stake in Mitek Systems by 753.5% in the fourth quarter. Oxford Asset Management now owns 194,515 shares of the software maker’s stock worth $1,196,000 after buying an additional 171,724 shares in the last quarter. Finally, Highbridge Capital Management LLC increased its stake in Mitek Systems by 423.1% in the fourth quarter. Highbridge Capital Management LLC now owns 137,912 shares of the software maker’s stock worth $848,000 after buying an additional 111,549 shares in the last quarter. 45.34% of the stock is owned by hedge funds and other institutional investors.

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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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