Mitek Systems (NASDAQ:MITK) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS
Mitek Systems (NASDAQ:MITK) posted its quarterly earnings data on Thursday. The software maker reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06, MarketWatch Earnings reports. The company had revenue of $25.41 million during the quarter, compared to analyst estimates of $23.39 million. Mitek Systems had a net margin of 6.37% and a return on equity of 15.61%.
MITK traded down $0.55 during trading on Friday, reaching $10.26. 1,238,003 shares of the company’s stock were exchanged, compared to its average volume of 405,217. The company’s fifty day moving average price is $9.48 and its 200-day moving average price is $8.92. Mitek Systems has a fifty-two week low of $5.26 and a fifty-two week high of $11.49. The firm has a market capitalization of $422.30 million, a PE ratio of 73.29, a P/E/G ratio of 2.44 and a beta of 0.24.
A number of analysts recently weighed in on MITK shares. Benchmark raised their price target on shares of Mitek Systems from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, May 1st. BidaskClub raised shares of Mitek Systems from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research lowered shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Roth Capital reissued a “hold” rating and issued a $9.00 price target on shares of Mitek Systems in a report on Monday, April 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Mitek Systems currently has a consensus rating of “Hold” and a consensus target price of $10.44.
Mitek Systems Company Profile
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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