$0.10 EPS Expected for Mitek Systems, Inc. (NASDAQ:MITK) This Quarter

Brokerages expect Mitek Systems, Inc. (NASDAQ:MITK) to post earnings per share of $0.10 for the current quarter, according to Zacks. Three analysts have provided estimates for Mitek Systems’ earnings. The highest EPS estimate is $0.11 and the lowest is $0.10. Mitek Systems reported earnings per share of $0.06 during the same quarter last year, which suggests a positive year over year growth rate of 66.7%. The firm is expected to announce its next quarterly earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.40 per share for the current fiscal year, with EPS estimates ranging from $0.39 to $0.40. For the next year, analysts expect that the firm will report earnings of $0.50 per share, with EPS estimates ranging from $0.48 to $0.54. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Mitek Systems.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The firm had revenue of $19.98 million for the quarter, compared to analysts’ expectations of $19.20 million. Mitek Systems had a negative net margin of 11.79% and a positive return on equity of 4.43%. The business’s revenue was up 39.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS.

Several research firms have weighed in on MITK. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. National Securities reissued a “neutral” rating and issued a $11.00 price target on shares of Horizon Technology Finance in a report on Thursday, May 2nd. Benchmark reissued a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of SPS Commerce in a report on Thursday, May 2nd. Finally, BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Mitek Systems currently has an average rating of “Buy” and a consensus target price of $15.00.

Mitek Systems stock traded up $0.38 during trading hours on Tuesday, hitting $10.57. The company had a trading volume of 606,447 shares, compared to its average volume of 431,307. The stock has a market capitalization of $409.43 million, a price-to-earnings ratio of 81.31, a PEG ratio of 4.56 and a beta of -0.22. Mitek Systems has a one year low of $6.32 and a one year high of $13.07. The business’s 50-day moving average is $9.79.

In other news, CFO Jeffrey C. Davison sold 13,077 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $9.55, for a total transaction of $124,885.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael E. Diamond sold 38,587 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $11.00, for a total transaction of $424,457.00. Following the transaction, the insider now directly owns 221,477 shares in the company, valued at $2,436,247. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,809 shares of company stock worth $632,224. Insiders own 8.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Juncture Wealth Strategies LLC acquired a new position in shares of Mitek Systems in the 2nd quarter worth approximately $460,000. Marshall Wace LLP raised its holdings in Mitek Systems by 48.8% in the 1st quarter. Marshall Wace LLP now owns 245,032 shares of the software maker’s stock valued at $2,999,000 after acquiring an additional 80,342 shares during the period. Granite Investment Partners LLC raised its holdings in Mitek Systems by 166.1% in the 1st quarter. Granite Investment Partners LLC now owns 243,952 shares of the software maker’s stock valued at $2,986,000 after acquiring an additional 152,289 shares during the period. Meitav Dash Investments Ltd. raised its holdings in Mitek Systems by 13.1% in the 1st quarter. Meitav Dash Investments Ltd. now owns 37,524 shares of the software maker’s stock valued at $441,000 after acquiring an additional 4,349 shares during the period. Finally, Royce & Associates LP bought a new position in Mitek Systems in the 1st quarter valued at about $2,521,000. 57.51% of the stock is currently owned by institutional investors.

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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