HC Wainwright Reaffirms "Buy" Rating for Mitek Systems (NASDAQ:MITK)

HC Wainwright restated their buy rating on shares of Mitek Systems (NASDAQ:MITK - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $13.00 price objective on the software maker's stock. HC Wainwright also issued estimates for Mitek Systems' Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.20 EPS, FY2025 earnings at $0.55 EPS and FY2026 earnings at $0.60 EPS.

Separately, StockNews.com raised Mitek Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Mitek Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.88.

Mitek Systems Stock Down 2.0 %

NASDAQ:MITK traded down $0.21 during trading hours on Tuesday, reaching $9.93. 275,820 shares of the stock were exchanged, compared to its average volume of 544,968. Mitek Systems has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a 50 day moving average of $10.37 and a 200 day moving average of $9.61. The stock has a market cap of $448.91 million, a PE ratio of 165.50 and a beta of 1.08.

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Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. On average, equities analysts expect that Mitek Systems will post 0.65 earnings per share for the current year.

Insider Buying and Selling at Mitek Systems

In related news, insider Michael E. Diamond sold 4,544 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the transaction, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher H. Briggs sold 3,320 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the transaction, the senior vice president now owns 65,353 shares in the company, valued at $593,405.24. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,699 shares of company stock valued at $152,140 in the last quarter. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in shares of Mitek Systems in the fourth quarter worth $39,000. nVerses Capital LLC increased its position in shares of Mitek Systems by 25.5% in the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker's stock worth $55,000 after purchasing an additional 1,300 shares during the period. Avior Wealth Management LLC bought a new position in Mitek Systems in the third quarter valued at about $60,000. KLP Kapitalforvaltning AS bought a new position in Mitek Systems in the fourth quarter valued at about $105,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Mitek Systems in the fourth quarter valued at about $114,000. Institutional investors 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.