$0.02 Earnings Per Share Expected for Mitek Systems, Inc. (MITK) This Quarter

Wall Street analysts predict that Mitek Systems, Inc. (NASDAQ:MITK) will report $0.02 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Mitek Systems’ earnings. The lowest EPS estimate is $0.01 and the highest is $0.02. Mitek Systems posted earnings of $0.03 per share in the same quarter last year, which would suggest a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, January 25th.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.31 per share for the current fiscal year, with EPS estimates ranging from $0.30 to $0.31. For the next financial year, analysts forecast that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.36 to $0.39. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Mitek Systems.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.35 million. Mitek Systems had a return on equity of 11.49% and a net margin of 31.05%. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded Mitek Systems from a “hold” rating to a “sell” rating in a report on Friday, November 24th. BidaskClub downgraded shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Mitek Systems has an average rating of “Hold” and an average price target of $10.80.

In other news, 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 sale, the insider now owns 227,937 shares in the company, valued at $2,181,357.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James B. Debello sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $8.50, for a total value of $425,000.00. Following the sale, the chief executive officer now owns 893,887 shares in the company, valued at approximately $7,598,039.50. The disclosure for this sale can be found here. Insiders sold 234,303 shares of company stock valued at $2,065,223 over the last quarter. 8.52% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC grew its stake in shares of Mitek Systems by 1.3% during the second quarter. TIAA CREF Investment Management LLC now owns 123,759 shares of the software maker’s stock worth $1,040,000 after acquiring an additional 1,624 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Mitek Systems by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 25,541 shares of the software maker’s stock worth $214,000 after acquiring an additional 1,854 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Mitek Systems by 6.1% during the second quarter. Rhumbline Advisers now owns 33,626 shares of the software maker’s stock worth $282,000 after acquiring an additional 1,927 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Mitek Systems by 20.0% during the second quarter. Voya Investment Management LLC now owns 17,451 shares of the software maker’s stock worth $147,000 after acquiring an additional 2,906 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Mitek Systems by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 102,100 shares of the software maker’s stock worth $857,000 after acquiring an additional 2,982 shares during the last quarter. Institutional investors and hedge funds own 43.53% of the company’s stock.

Shares of Mitek Systems (NASDAQ:MITK) opened at $9.30 on Monday. The firm has a market capitalization of $323.41, a PE ratio of 24.47, a P/E/G ratio of 4.65 and a beta of 0.66. Mitek Systems has a fifty-two week low of $5.50 and a fifty-two week high of $10.75.

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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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