Mitek Systems (MITK) Expected to Post Quarterly Earnings on Thursday

Mitek Systems (NASDAQ:MITK) is expected to release its results after the market closes on Thursday, October 29th. Analysts expect Mitek Systems to post earnings of $0.1680 per share and revenue of $44.71 million for the quarter.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. Mitek Systems had a return on equity of 19.16% and a net margin of 11.39%. The company had revenue of $54.04 million during the quarter, compared to analysts’ expectations of $50.82 million. On average, analysts expect Mitek Systems to post $0.91 EPS for the current fiscal year and $1.08 EPS for the next fiscal year.

Mitek Systems Trading Up 3.4%

Shares of NASDAQ:MITK opened at $18.13 on Thursday. Mitek Systems has a 12-month low of $8.53 and a 12-month high of $21.05. The company has a market capitalization of $818.06 million, a PE ratio of 38.58 and a beta of 0.94. The business has a 50 day moving average of $17.73 and a two-hundred day moving average of $16.93. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Mitek Systems in a report on Friday, August 7th. Zacks Research lowered shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Maxim Group set a $26.00 price objective on shares of Mitek Systems in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.33.

About Mitek Systems

Mitek Systems, Inc (NASDAQ:MITK) develops software for digital identity verification, fraud prevention and mobile banking. Its technology enables organizations to verify individuals and documents remotely, helping businesses establish trust in digital transactions while reducing identity-related risk.

The company’s products include digital identity verification solutions, document verification and authentication tools, biometric technologies, and fraud detection capabilities. Mitek also provides mobile deposit technology, which allows consumers to deposit checks by capturing images with a smartphone or other mobile device.