Q1 EPS Estimates for Mitek Systems Lowered by Analyst

Mitek Systems, Inc. (NASDAQ:MITK) – Research analysts at Northland Capmk reduced their Q1 2025 earnings per share (EPS) estimates for shares of Mitek Systems in a report released on Tuesday, December 17th. Northland Capmk analyst M. Grondahl now forecasts that the software maker will post earnings per share of $0.08 for the quarter, down from their prior estimate of $0.09. The consensus estimate for Mitek Systems’ current full-year earnings is $0.56 per share. Northland Capmk also issued estimates for Mitek Systems’ FY2025 earnings at $0.64 EPS.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.17 by $0.16. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business had revenue of $43.22 million during the quarter, compared to analyst estimates of $41.30 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis.

Other analysts have also issued research reports about the company. StockNews.com lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. Finally, HC Wainwright boosted their price target on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Mitek Systems Trading Up 3.0 %

NASDAQ:MITK opened at $11.43 on Friday. The firm has a 50 day moving average of $9.23 and a 200 day moving average of $9.91. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems has a 52 week low of $7.35 and a 52 week high of $16.24. The stock has a market capitalization of $528.07 million, a price-to-earnings ratio of -76.20 and a beta of 1.12.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Michael E. Diamond sold 4,544 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the sale, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the transaction, the insider now directly owns 164,342 shares of the company’s stock, valued at approximately $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Mitek Systems

Several hedge funds have recently modified their holdings of MITK. nVerses Capital LLC raised its holdings in Mitek Systems by 25.5% in the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock worth $55,000 after purchasing an additional 1,300 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Mitek Systems by 12.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,937 shares of the software maker’s stock worth $201,000 after buying an additional 1,923 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Mitek Systems by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after buying an additional 2,460 shares in the last quarter. Janus Henderson Group PLC grew its stake in Mitek Systems by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker’s stock valued at $640,000 after acquiring an additional 2,806 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Mitek Systems in the 2nd quarter valued at $32,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.