Mitek Systems (NASDAQ:MITK) Releases Earnings Results, Beats Expectations By $0.06 EPS

Mitek Systems (NASDAQ:MITK) released its earnings results on Thursday. The software maker reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ 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 return on equity of 15.61% and a net margin of 6.37%.

Shares of NASDAQ MITK traded down $0.55 during mid-day trading on Friday, reaching $10.26. The company had a trading volume of 1,238,003 shares, compared to its average volume of 405,217. Mitek Systems has a twelve month low of $5.26 and a twelve month high of $11.49. The stock has a market capitalization of $422.30 million, a PE ratio of 73.29, a price-to-earnings-growth ratio of 2.44 and a beta of 0.24. The stock’s 50 day moving average is $9.48 and its 200-day moving average is $8.92.

In other news, CFO Jeffrey C. Davison sold 11,437 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $9.85, for a total value of $112,654.45. Following the transaction, the chief financial officer now directly owns 173,506 shares of the company’s stock, valued at $1,709,034.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.

A number of research firms have recently issued reports on MITK. BidaskClub upgraded Mitek Systems from a “sell” rating to a “hold” rating in a report on Friday. Benchmark increased their target price on Mitek Systems from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, May 1st. Zacks Investment Research lowered Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Roth Capital restated a “hold” rating and issued a $9.00 target price on shares of Mitek Systems in a report on Monday, April 27th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mitek Systems currently has an average rating of “Hold” and an average 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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Earnings History for Mitek Systems (NASDAQ:MITK)

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