Northland Securities Forecasts Mitek Systems Q1 Earnings

Mitek Systems, Inc. (NASDAQ:MITK) – Equities research analysts at Northland Securities issued their Q1 2027 earnings estimates for Mitek Systems in a research note issued on Wednesday, April 15th. Northland Securities analyst M. Grondahl forecasts that the software maker will earn $0.22 per share for the quarter. The consensus estimate for Mitek Systems’ current full-year earnings is $0.59 per share. Northland Securities also issued estimates for Mitek Systems’ FY2027 earnings at $1.03 EPS.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, February 5th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $44.24 million for the quarter, compared to analyst estimates of $42.44 million. Mitek Systems had a net margin of 8.67% and a return on equity of 16.86%.

A number of other research firms have also commented on MITK. Zacks Research raised shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Jefferies Financial Group raised shares of Mitek Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $15.00 in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Mitek Systems in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.00.

Mitek Systems Stock Performance

NASDAQ:MITK opened at $14.04 on Friday. Mitek Systems has a 52 week low of $7.54 and a 52 week high of $15.61. The firm has a market cap of $636.29 million, a price-to-earnings ratio of 40.12 and a beta of 1.03. The firm’s 50-day simple moving average is $13.80 and its 200 day simple moving average is $11.11.

Institutional Trading of Mitek Systems

Several institutional investors and hedge funds have recently made changes to their positions in MITK. New York State Teachers Retirement System bought a new position in Mitek Systems during the third quarter valued at about $39,000. Tower Research Capital LLC TRC lifted its holdings in shares of Mitek Systems by 320.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock worth $60,000 after buying an additional 4,586 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Mitek Systems by 305.2% in the fourth quarter. State of Alaska Department of Revenue now owns 8,075 shares of the software maker’s stock worth $85,000 after buying an additional 6,082 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Mitek Systems by 4,147.9% in the third quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock valued at $97,000 after purchasing an additional 9,706 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in Mitek Systems in the fourth quarter valued at approximately $117,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Mitek Systems

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.