Analysts Set Mitek Systems, Inc. (MITK) PT at $13.67

Shares of Mitek Systems, Inc. (NASDAQ:MITK) have been assigned a consensus rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $13.67.

A number of analysts recently weighed in on the stock. BidaskClub cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, February 25th.

NASDAQ:MITK traded down $0.03 during trading hours on Wednesday, reaching $11.82. 127,812 shares of the company’s stock were exchanged, compared to its average volume of 372,738. The stock has a market capitalization of $458.29 million, a price-to-earnings ratio of 90.92, a PEG ratio of 4.95 and a beta of -0.38. Mitek Systems has a 12 month low of $6.32 and a 12 month high of $13.07.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Tuesday, January 29th. The software maker reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The firm had revenue of $17.68 million during the quarter, compared to analysts’ expectations of $17.26 million. Mitek Systems had a negative net margin of 13.40% and a positive return on equity of 4.54%. As a group, research analysts predict that Mitek Systems will post 0.16 earnings per share for the current fiscal year.

In related news, insider Stephen Ritter sold 11,377 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $11.17, for a total value of $127,081.09. Following the completion of the sale, the insider now owns 199,199 shares in the company, valued at approximately $2,225,052.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc lifted its position in shares of Mitek Systems by 6.8% in the 3rd quarter. Vanguard Group Inc now owns 1,790,442 shares of the software maker’s stock valued at $12,622,000 after acquiring an additional 114,572 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Mitek Systems by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,790,442 shares of the software maker’s stock valued at $12,622,000 after acquiring an additional 114,572 shares in the last quarter. Thomson Horstmann & Bryant Inc. lifted its position in shares of Mitek Systems by 22.1% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 1,292,505 shares of the software maker’s stock valued at $13,971,000 after acquiring an additional 233,991 shares in the last quarter. Credit Suisse AG lifted its position in shares of Mitek Systems by 429.8% in the 3rd quarter. Credit Suisse AG now owns 1,175,675 shares of the software maker’s stock valued at $8,288,000 after acquiring an additional 953,764 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its position in shares of Mitek Systems by 14.8% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 616,225 shares of the software maker’s stock valued at $6,661,000 after acquiring an additional 79,230 shares in the last quarter. Institutional investors and hedge funds own 50.89% of the company’s stock.

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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