Shares of Mitek Systems Inc. (NASDAQ:MITK) have earned an average rating of “Buy” from the seven analysts that are presently covering the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.08.
Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. TheStreet cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, Needham & Company LLC raised Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Monday, July 11th.
Mitek Systems (NASDAQ:MITK) traded up 1.1736% during trading on Friday, reaching $7.2845. 134,580 shares of the company were exchanged. The firm’s 50 day moving average is $8.02 and its 200 day moving average is $7.63. The stock has a market capitalization of $238.40 million, a PE ratio of 123.4661 and a beta of 2.23. Mitek Systems has a 52-week low of $3.10 and a 52-week high of $9.49.
Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, July 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. Mitek Systems had a return on equity of 14.96% and a net margin of 5.94%. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $8.31 million. During the same period in the prior year, the company posted $0.07 EPS. Mitek Systems’s quarterly revenue was up 41.3% on a year-over-year basis. Analysts expect that Mitek Systems will post $0.25 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Mitek Systems by 12.0% in the second quarter. Vanguard Group Inc. now owns 1,132,112 shares of the company’s stock worth $8,049,000 after buying an additional 121,599 shares in the last quarter. BlackRock Fund Advisors raised its stake in Mitek Systems by 1,148.5% in the second quarter. BlackRock Fund Advisors now owns 764,262 shares of the company’s stock worth $5,434,000 after buying an additional 703,050 shares during the period. G2 Investment Partners Management LLC acquired a new stake in Mitek Systems during the second quarter worth about $5,161,000. Blair William & Co. IL raised its stake in Mitek Systems by 254.6% in the second quarter. Blair William & Co. IL now owns 687,370 shares of the company’s stock worth $728,000 after buying an additional 493,525 shares during the period. Finally, EAM Investors LLC raised its stake in Mitek Systems by 37.7% in the second quarter. EAM Investors LLC now owns 651,277 shares of the company’s stock worth $4,631,000 after buying an additional 178,471 shares during the period. 45.36% of the stock is owned by institutional investors.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard.
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