Wall Street analysts forecast that Mitek Systems, Inc. (NASDAQ:MITK) will post earnings per share of $0.09 for the current quarter, Zacks reports. Three analysts have made estimates for Mitek Systems’ earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.08. Mitek Systems posted earnings of $0.07 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The firm is scheduled to report its next earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.29 per share for the current year, with EPS estimates ranging from $0.28 to $0.30. For the next fiscal year, analysts forecast that the firm will post earnings of $0.38 per share, with EPS estimates ranging from $0.37 to $0.38. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Mitek Systems.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, July 27th. The software maker reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.48 million. Mitek Systems had a net margin of 5.19% and a return on equity of 10.45%. The company’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research report on Friday, July 14th. Benchmark Co. raised their price objective on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 24th. BidaskClub cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Roth Capital set a $11.00 price objective on shares of Mitek Systems and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Northland Securities restated a “buy” rating and set a $11.00 price objective on shares of Mitek Systems in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and six have assigned 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.

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Shares of Mitek Systems (NASDAQ:MITK) opened at 9.65 on Tuesday. The firm’s 50 day moving average is $9.67 and its 200-day moving average is $9.10. The company has a market cap of $324.10 million, a PE ratio of 163.56 and a beta of 0.73. Mitek Systems has a 1-year low of $5.26 and a 1-year high of $10.75.

Large investors have recently modified their holdings of the stock. Renaissance Group LLC raised its position in Mitek Systems by 1.2% in the 2nd quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock worth $455,000 after purchasing an additional 620 shares during the period. Unterberg Capital LLC raised its position in Mitek Systems by 195.1% in the 2nd quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock worth $3,108,000 after purchasing an additional 244,600 shares during the period. TIAA CREF Investment Management LLC raised its position in Mitek Systems by 43.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock worth $812,000 after purchasing an additional 37,271 shares during the period. Vanguard Group Inc. raised its position in Mitek Systems by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock worth $8,705,000 after purchasing an additional 99,489 shares during the period. Finally, Eqis Capital Management Inc. raised its position in Mitek Systems by 16.5% in the 2nd quarter. Eqis Capital Management Inc. now owns 32,273 shares of the software maker’s stock worth $271,000 after purchasing an additional 4,570 shares during the period. Institutional investors own 42.68% of the company’s stock.

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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