$0.05 EPS Expected for Mitek Systems, Inc. (MITK) This Quarter

Equities research analysts predict that Mitek Systems, Inc. (NASDAQ:MITK) will post earnings of $0.05 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Mitek Systems’ earnings, with estimates ranging from $0.05 to $0.06. Mitek Systems posted earnings of $0.06 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings report on Tuesday, May 7th.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.38 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.56. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Mitek Systems.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The firm had revenue of $17.68 million for the quarter, compared to the consensus estimate of $17.26 million. Mitek Systems had a positive return on equity of 4.54% and a negative net margin of 13.40%.

MITK has been the topic of several analyst reports. BidaskClub upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 1st. ValuEngine upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. Finally, Benchmark upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, November 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.67.

In related news, insider Stephen Ritter sold 11,377 shares of the business’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $11.17, for a total transaction of $127,081.09. Following the transaction, the insider now owns 199,199 shares in the company, valued at approximately $2,225,052.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James B. Debello sold 29,550 shares of the business’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $11.12, for a total value of $328,596.00. Following the transaction, the chief executive officer now owns 591,911 shares in the company, valued at approximately $6,582,050.32. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Mitek Systems by 12.7% during the 4th quarter. Geode Capital Management LLC now owns 387,747 shares of the software maker’s stock valued at $4,191,000 after purchasing an additional 43,719 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mitek Systems by 35.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 465,110 shares of the software maker’s stock valued at $5,028,000 after purchasing an additional 122,944 shares during the period. Quad Capital Management Advisors LLC purchased a new position in Mitek Systems during the 4th quarter valued at about $2,424,000. Potrero Capital Research LLC purchased a new position in Mitek Systems during the 4th quarter valued at about $4,526,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Mitek Systems during the 4th quarter valued at about $119,000. Institutional investors own 52.03% of the company’s stock.

MITK opened at $11.26 on Friday. The stock has a market capitalization of $436.16 million, a PE ratio of 86.62, a P/E/G ratio of 4.77 and a beta of -0.39. Mitek Systems has a 12 month low of $6.32 and a 12 month high of $11.92.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

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