Mitek Systems, Inc. (MITK) Expected to Announce Earnings of $0.05 Per Share

Analysts forecast that Mitek Systems, Inc. (NASDAQ:MITK) will report $0.05 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for Mitek Systems’ earnings. The highest EPS estimate is $0.06 and the lowest is $0.05. Mitek Systems posted earnings per share of $0.06 in the same quarter last year, which suggests a negative year-over-year growth rate of 16.7%. The business is expected to issue its next quarterly earnings report on Tuesday, May 7th.

On average, analysts expect that Mitek Systems will report full year earnings of $0.38 per share for the current financial year. For the next year, analysts expect that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.56. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Mitek Systems.

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

A number of analysts have issued reports on MITK shares. ValuEngine upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 2nd. BidaskClub raised Mitek Systems from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Mitek Systems currently has a consensus rating of “Buy” and an average price target of $13.67.

In other 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 completion of the transaction, the insider now directly owns 199,199 shares of the company’s stock, valued at $2,225,052.83. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in MITK. Credit Suisse AG grew its position in shares of Mitek Systems by 429.8% during the third quarter. Credit Suisse AG now owns 1,175,675 shares of the software maker’s stock worth $8,288,000 after buying an additional 953,764 shares in the last quarter. Sargent Investment Group LLC acquired a new position in shares of Mitek Systems during the fourth quarter worth about $6,106,000. Potrero Capital Research LLC acquired a new position in shares of Mitek Systems during the fourth quarter worth about $4,526,000. Hudson Bay Capital Management LP acquired a new position in shares of Mitek Systems during the fourth quarter worth about $3,497,000. Finally, Thomson Horstmann & Bryant Inc. grew its position in shares of Mitek Systems by 22.1% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 1,292,505 shares of the software maker’s stock worth $13,971,000 after buying an additional 233,991 shares in the last quarter. 50.89% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MITK traded down $0.02 on Tuesday, reaching $11.85. 196,000 shares of the company’s stock were exchanged, compared to its average volume of 385,343. The firm has a market capitalization of $458.29 million, a PE ratio of 91.15, a price-to-earnings-growth ratio of 4.94 and a beta of -0.38. Mitek Systems has a 52-week low of $6.32 and a 52-week high of $13.07.

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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