Shares of Mitek Systems, Inc. (NASDAQ:MITK) have earned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.60.

Several research firms have weighed in on MITK. Zacks Investment Research downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 24th. BidaskClub raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 25th.

Shares of Mitek Systems (NASDAQ MITK) traded down $0.10 during midday trading on Thursday, reaching $8.60. 148,500 shares of the company were exchanged, compared to its average volume of 373,002. Mitek Systems has a fifty-two week low of $5.50 and a fifty-two week high of $10.75. The company has a market capitalization of $302.54, a P/E ratio of 58.00, a PEG ratio of 4.35 and a beta of 0.64.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The business had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.35 million. During the same quarter last year, the firm earned $0.07 earnings per share. Mitek Systems’s quarterly revenue was up 33.4% on a year-over-year basis. equities research analysts anticipate that Mitek Systems will post 0.13 EPS for the current year.

In related news, CEO James B. Debello sold 10,313 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total transaction of $88,691.80. Following the transaction, the chief executive officer now directly owns 909,903 shares in the company, valued at $7,825,165.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Ritter sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $9.57, for a total transaction of $95,700.00. Following the transaction, the insider now owns 227,937 shares in the company, valued at $2,181,357.09. The disclosure for this sale can be found here. Insiders have sold 155,942 shares of company stock valued at $1,387,527 over the last quarter. Corporate insiders own 8.52% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MITK. Independent Advisor Alliance bought a new stake in Mitek Systems in the third quarter worth about $4,185,000. Archon Capital Management LLC raised its position in shares of Mitek Systems by 70.4% in the second quarter. Archon Capital Management LLC now owns 858,922 shares of the software maker’s stock valued at $7,215,000 after purchasing an additional 354,952 shares during the period. Unterberg Capital LLC raised its position in shares of Mitek Systems by 195.1% in the second quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after purchasing an additional 244,600 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Mitek Systems in the third quarter valued at approximately $1,681,000. Finally, Algert Global LLC bought a new stake in shares of Mitek Systems in the second quarter valued at approximately $1,356,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

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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.

Analyst Recommendations for Mitek Systems (NASDAQ:MITK)

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