Mitek Systems (NASDAQ:MITK) posted its earnings results on Thursday. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.09, Briefing.com reports. The company had revenue of $25.02 million during the quarter, compared to analyst estimates of $25.02 million. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. Mitek Systems’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share.
Shares of MITK traded down $1.70 during midday trading on Friday, hitting $8.10. 2,227,200 shares of the company’s stock traded hands, compared to its average volume of 376,037. The firm’s fifty day moving average is $9.70 and its 200-day moving average is $10.02. The stock has a market capitalization of $390.92 million, a price-to-earnings ratio of 62.31, a price-to-earnings-growth ratio of 2.59 and a beta of -0.20. Mitek Systems has a 1 year low of $8.01 and a 1 year high of $13.07.
A number of analysts have weighed in on MITK shares. ValuEngine lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. BidaskClub lowered Mitek Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Roth Capital set a $14.00 target price on Mitek Systems and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Zacks Investment Research lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Mitek Systems has an average rating of “Hold” and an average price target of $14.75.
In other news, insider Michael E. Diamond sold 3,868 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $9.48, for a total transaction of $36,668.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jason Gray sold 8,753 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.84, for a total value of $86,129.52. The disclosure for this sale can be found here. Insiders have sold a total of 14,046 shares of company stock worth $136,307 over the last ninety days. 8.20% of the stock is owned by insiders.
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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