Analysts Anticipate Mitek Systems, Inc. (MITK) to Announce $0.04 EPS

Wall Street brokerages expect Mitek Systems, Inc. (NASDAQ:MITK) to post earnings of $0.04 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Mitek Systems’ earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. Mitek Systems reported earnings of $0.08 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 50%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that Mitek Systems will report full year earnings of $0.30 per share for the current year, with EPS estimates ranging from $0.29 to $0.31. For the next year, analysts expect that the business will report earnings of $0.36 per share, with EPS estimates ranging from $0.35 to $0.37. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Mitek Systems.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Thursday, January 25th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $12.14 million during the quarter, compared to the consensus estimate of $11.57 million. Mitek Systems had a net margin of 18.57% and a return on equity of 9.45%. Mitek Systems’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS.

Several analysts recently issued reports on MITK shares. Zacks Investment Research downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub downgraded shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.50.

In related news, CEO James B. Debello sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $8.50, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 893,887 shares in the company, valued at approximately $7,598,039.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Ritter sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were 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 of the company’s stock, valued at $2,181,357.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,654 shares of company stock valued at $1,930,642. Corporate insiders own 8.52% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. raised its stake in shares of Mitek Systems by 74.1% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 187,900 shares of the software maker’s stock valued at $1,682,000 after buying an additional 80,000 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of Mitek Systems in the 4th quarter valued at $345,000. Wedge Capital Management L L P NC raised its stake in shares of Mitek Systems by 19.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 211,400 shares of the software maker’s stock valued at $1,892,000 after buying an additional 34,500 shares in the last quarter. P.A.W. Capital Corp raised its stake in shares of Mitek Systems by 40.0% in the 4th quarter. P.A.W. Capital Corp now owns 350,000 shares of the software maker’s stock valued at $3,133,000 after buying an additional 100,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Mitek Systems in the 4th quarter valued at $161,000. Hedge funds and other institutional investors own 43.75% of the company’s stock.

Shares of Mitek Systems (NASDAQ MITK) opened at $7.45 on Thursday. The stock has a market cap of $256.54, a price-to-earnings ratio of 32.39, a P/E/G ratio of 6.13 and a beta of 0.46. Mitek Systems has a 1-year low of $5.50 and a 1-year 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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