BidaskClub downgraded shares of Mitek Systems (NASDAQ:MITK) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Separately, ValuEngine upgraded shares of Mitek Systems from a buy rating to a strong-buy rating in a research note on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Mitek Systems has an average rating of Buy and a consensus price target of $13.67.

MITK stock opened at $11.75 on Tuesday. Mitek Systems has a one year low of $6.32 and a one year high of $13.07. The firm has a market capitalization of $455.14 million, a PE ratio of 90.38, a PEG ratio of 4.95 and a beta of -0.38.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Tuesday, January 29th. The software maker reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Mitek Systems had a negative net margin of 13.40% and a positive return on equity of 4.54%. The company had revenue of $17.68 million during the quarter, compared to analysts’ expectations of $17.26 million. Equities research analysts expect that Mitek Systems will post 0.16 earnings per share for the current fiscal year.

In other news, insider Stephen Ritter sold 11,377 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.17, for a total value of $127,081.09. Following the completion of the transaction, the insider now owns 199,199 shares in the company, valued at approximately $2,225,052.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of Mitek Systems in the 4th quarter valued at about $34,000. Virtu Financial LLC purchased a new position in Mitek Systems during the 3rd quarter valued at about $104,000. Harvest Management LLC purchased a new position in Mitek Systems during the 4th quarter valued at about $108,000. Metropolitan Life Insurance Co. NY purchased a new position in Mitek Systems during the 4th quarter valued at about $119,000. Finally, Wedbush Securities Inc. purchased a new position in Mitek Systems during the 1st quarter valued at about $122,000. Institutional investors and hedge funds own 50.89% of the company’s stock.

About Mitek Systems

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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