HC Wainwright Increases Earnings Estimates for Mitek Systems

Mitek Systems, Inc. (NASDAQ:MITK - Free Report) - Investment analysts at HC Wainwright raised their FY2025 earnings estimates for Mitek Systems in a research note issued to investors on Tuesday, December 17th. HC Wainwright analyst S. Buck now expects that the software maker will post earnings per share of $0.72 for the year, up from their prior estimate of $0.50. HC Wainwright has a "Buy" rating and a $13.00 price target on the stock. The consensus estimate for Mitek Systems' current full-year earnings is $0.56 per share. HC Wainwright also issued estimates for Mitek Systems' Q4 2025 earnings at $0.26 EPS.

MITK has been the subject of a number of other reports. Jefferies Financial Group lowered shares of Mitek Systems from a "buy" rating to a "hold" rating and reduced their price objective for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.63.

Mitek Systems Trading Up 3.0 %

Shares of NASDAQ:MITK traded up $0.33 during midday trading on Friday, reaching $11.43. The company had a trading volume of 1,204,874 shares, compared to its average volume of 569,204. The company has a fifty day simple moving average of $9.18 and a two-hundred day simple moving average of $9.92. The firm has a market cap of $492.53 million, a price-to-earnings ratio of -76.20 and a beta of 1.12. Mitek Systems has a 1-year low of $7.35 and a 1-year high of $16.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings data on Monday, December 16th. The software maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.16. The business had revenue of $43.22 million during the quarter, compared to analyst estimates of $41.30 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The company's revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS.

Institutional Trading of Mitek Systems

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Mitek Systems during the 2nd quarter valued at $32,000. nVerses Capital LLC raised its holdings in Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker's stock valued at $55,000 after buying an additional 1,300 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Mitek Systems in the third quarter worth about $60,000. Intech Investment Management LLC bought a new stake in shares of Mitek Systems during the 3rd quarter worth about $117,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Mitek Systems during the 2nd quarter valued at about $138,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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