Mitek Systems, Inc. (MITK) Set to Announce Quarterly Earnings on Monday
Mitek Systems, Inc. (NASDAQ:MITK) will be issuing its quarterly earnings data before the market opens on Monday, October 2nd. Analysts expect the company to announce earnings of $0.10 per share for the quarter.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 27th. The software maker reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The firm had revenue of $11.80 million during the quarter, compared to analyst estimates of $11.48 million. Mitek Systems had a return on equity of 10.45% and a net margin of 5.19%. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, analysts expect Mitek Systems to post $0.28 EPS for the current fiscal year and $0.37 EPS for the next fiscal year.
Mitek Systems, Inc. (NASDAQ:MITK) opened at 9.65 on Monday. Mitek Systems, Inc. has a 12 month low of $5.26 and a 12 month high of $10.75. The stock has a market cap of $324.10 million, a price-to-earnings ratio of 163.56 and a beta of 0.65. The stock’s 50 day moving average price is $9.90 and its 200-day moving average price is $8.51.
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In related news, CFO Russell C. Clark sold 39,400 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $8.25, for a total transaction of $325,050.00. Following the completion of the transaction, the chief financial officer now owns 88,818 shares in the company, valued at approximately $732,748.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.52% of the stock is owned by corporate insiders.
Several research analysts recently weighed in on the stock. Roth Capital set a $10.00 price target on shares of Mitek Systems and gave the stock a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Friday, July 14th. Benchmark Co. upped their price target on shares of Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. BidaskClub downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, ValuEngine upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Mitek Systems currently has a consensus rating of “Buy” and an average price target of $10.67.
About Mitek Systems
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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