Mitek Systems (NASDAQ:MITK – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Several other brokerages also recently issued reports on MITK. TheStreet downgraded shares of Mitek Systems from a “b-” rating to a “c+” rating in a research note on Tuesday, May 3rd. Northland Securities decreased their price target on shares of Mitek Systems from $20.00 to $15.00 in a research note on Wednesday, May 25th. HC Wainwright decreased their price target on shares of Mitek Systems from $27.00 to $22.00 in a research note on Friday, April 29th. Finally, Maxim Group reiterated a “buy” rating and set a $28.00 price target on shares of Mitek Systems in a research note on Friday, April 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $21.67.
NASDAQ:MITK opened at $8.74 on Monday. The company’s 50 day moving average is $10.50 and its 200-day moving average is $13.82. The firm has a market cap of $387.59 million, a price-to-earnings ratio of 38.00 and a beta of 0.63. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.67. Mitek Systems has a 12 month low of $8.32 and a 12 month high of $23.29.
Mitek Systems (NASDAQ:MITK – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $34.70 million for the quarter, compared to the consensus estimate of $33.02 million. Mitek Systems had a net margin of 7.76% and a return on equity of 17.17%. Mitek Systems’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. Research analysts predict that Mitek Systems will post 0.59 EPS for the current fiscal year.
In other Mitek Systems news, CTO Stephen Ritter sold 2,840 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $14.20, for a total transaction of $40,328.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scipio Maximus Carnecchia sold 9,957 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $14.20, for a total value of $141,389.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,958 shares of company stock valued at $240,815. Company insiders own 3.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Mitek Systems in the 4th quarter valued at approximately $30,000. Engineers Gate Manager LP acquired a new stake in shares of Mitek Systems in the 1st quarter valued at approximately $175,000. MQS Management LLC acquired a new stake in shares of Mitek Systems in the 1st quarter valued at approximately $192,000. Tatro Capital LLC raised its position in shares of Mitek Systems by 13.0% in the 4th quarter. Tatro Capital LLC now owns 12,811 shares of the software maker’s stock valued at $227,000 after acquiring an additional 1,478 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Mitek Systems by 54.5% in the 1st quarter. MetLife Investment Management LLC now owns 23,402 shares of the software maker’s stock valued at $343,000 after acquiring an additional 8,255 shares during the period. 66.93% of the stock is owned by hedge funds and other institutional investors.
About Mitek Systems (Get Rating)
Mitek Systems, Inc develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company’s solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences.
