William Blair Has Positive View of Mitek Systems Q1 Earnings

Mitek Systems, Inc. (NASDAQ:MITK) – Stock analysts at William Blair upped their Q1 2025 EPS estimates for shares of Mitek Systems in a research note issued on Tuesday, December 17th. William Blair analyst J. Roberge now expects that the software maker will earn $0.05 per share for the quarter, up from their previous forecast of $0.04. The consensus estimate for Mitek Systems’ current full-year earnings is $0.56 per share.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.17 by $0.16. The firm had revenue of $43.22 million for the quarter, compared to the consensus estimate of $41.30 million. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. HC Wainwright increased their price objective on Mitek Systems from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Mitek Systems currently has an average rating of “Moderate Buy” and a consensus price target of $12.63.

Mitek Systems Stock Up 1.7 %

Shares of MITK traded up $0.18 during midday trading on Thursday, hitting $10.94. The stock had a trading volume of 271,725 shares, compared to its average volume of 561,218. The firm has a market cap of $505.47 million, a price-to-earnings ratio of -72.93 and a beta of 1.12. The company has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $9.91. Mitek Systems has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46.

Hedge Funds Weigh In On Mitek Systems

A number of hedge funds have recently modified their holdings of the business. Innealta Capital LLC bought a new position in shares of Mitek Systems in the second quarter valued at $32,000. nVerses Capital LLC grew its position in shares of Mitek Systems by 25.5% during the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,300 shares during the period. Avior Wealth Management LLC bought a new stake in Mitek Systems in the 3rd quarter valued at about $60,000. Intech Investment Management LLC purchased a new position in shares of Mitek Systems in the third quarter worth about $117,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems during the 2nd quarter valued at approximately $138,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the sale, the insider now owns 164,342 shares of the company’s stock, valued at approximately $1,490,581.94. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael E. Diamond sold 4,544 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the transaction, the insider now owns 166,632 shares of the company’s stock, valued at $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,699 shares of company stock valued at $152,140 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.