Q3 2024 EPS Estimates for Mitek Systems, Inc. (NASDAQ:MITK) Cut by Analyst

Mitek Systems, Inc. (NASDAQ:MITK) – Stock analysts at HC Wainwright decreased their Q3 2024 earnings per share (EPS) estimates for Mitek Systems in a note issued to investors on Tuesday, April 16th. HC Wainwright analyst S. Buck now forecasts that the software maker will post earnings per share of $0.22 for the quarter, down from their previous forecast of $0.24. HC Wainwright has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. HC Wainwright also issued estimates for Mitek Systems’ Q4 2024 earnings at $0.22 EPS.

MITK has been the subject of several other research reports. Craig Hallum raised their target price on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Wednesday.

Mitek Systems Price Performance

Shares of MITK opened at $11.98 on Friday. The firm has a market capitalization of $560.56 million, a price-to-earnings ratio of -171.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69. Mitek Systems has a one year low of $8.77 and a one year high of $16.24. The stock’s fifty day moving average is $12.69 and its 200-day moving average is $11.95.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The company had revenue of $37.66 million for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%.

Hedge Funds Weigh In On Mitek Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Mitek Systems by 52.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 389,319 shares of the software maker’s stock valued at $5,489,000 after purchasing an additional 134,502 shares during the period. Vanguard Group Inc. boosted its position in shares of Mitek Systems by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock valued at $44,065,000 after purchasing an additional 92,146 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Mitek Systems by 3.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after purchasing an additional 963 shares during the period. Legal & General Group Plc boosted its position in shares of Mitek Systems by 6.8% in the 4th quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after purchasing an additional 193,443 shares during the period. Finally, Barclays PLC boosted its position in shares of Mitek Systems by 317.3% in the 4th quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock valued at $912,000 after purchasing an additional 53,180 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.