$0.02 Earnings Per Share Expected for Mitek Systems, Inc. (MITK) This Quarter

Analysts expect that Mitek Systems, Inc. (NASDAQ:MITK) will report earnings of $0.02 per share for the current quarter, Zacks reports. Three analysts have made estimates for Mitek Systems’ earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at $0.01. Mitek Systems reported earnings per share of $0.03 in the same quarter last year, which would indicate a negative year over year growth rate of 33.3%. The company is expected to report its next earnings report on Thursday, February 1st.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.31 per share for the current fiscal year, with EPS estimates ranging from $0.30 to $0.31. For the next fiscal year, analysts forecast that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.36 to $0.39. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Mitek Systems.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $12.90 million for the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a report on Friday, December 15th. BidaskClub lowered Mitek Systems from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $10.80.

Shares of Mitek Systems (NASDAQ:MITK) opened at $9.00 on Friday. The firm has a market cap of $312.97, a price-to-earnings ratio of 23.68, a P/E/G ratio of 4.45 and a beta of 0.66. Mitek Systems has a fifty-two week low of $5.50 and a fifty-two week high of $10.75.

In other news, CEO James B. Debello sold 50,000 shares of Mitek Systems stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $8.50, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 893,887 shares of the company’s stock, valued at approximately $7,598,039.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James B. Debello sold 10,313 shares of Mitek Systems stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $8.60, for a total value of $88,691.80. Following the completion of the transaction, the chief executive officer now directly owns 909,903 shares of the company’s stock, valued at approximately $7,825,165.80. The disclosure for this sale can be found here. Insiders have sold 234,303 shares of company stock valued at $2,065,223 in the last three months. Insiders own 8.52% of the company’s stock.

Large investors have recently modified their holdings of the business. Thrivent Financial For Lutherans purchased a new position in Mitek Systems in the 2nd quarter worth about $271,000. Engineers Gate Manager LP bought a new stake in shares of Mitek Systems during the 3rd quarter valued at about $296,000. Essex Investment Management Co. LLC grew its stake in shares of Mitek Systems by 17.0% during the 3rd quarter. Essex Investment Management Co. LLC now owns 364,736 shares of the software maker’s stock valued at $3,465,000 after purchasing an additional 52,937 shares during the period. OxFORD Asset Management LLP grew its stake in shares of Mitek Systems by 18.9% during the 3rd quarter. OxFORD Asset Management LLP now owns 285,070 shares of the software maker’s stock valued at $2,720,000 after acquiring an additional 45,342 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Mitek Systems by 16.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 83,741 shares of the software maker’s stock valued at $703,000 after acquiring an additional 11,943 shares during the period. 43.53% of the stock is owned by institutional investors and hedge funds.

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About Mitek Systems

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.

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