Mitek Systems (NASDAQ:MITK) Releases Earnings Results, Misses Expectations By $0.07 EPS

Mitek Systems (NASDAQ:MITK - Get Free Report) announced its earnings results on Monday. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07), Zacks reports. Mitek Systems had a return on equity of 16.64% and a net margin of 1.90%. Mitek Systems updated its FY 2025 guidance to EPS.

Mitek Systems Stock Performance

NASDAQ:MITK traded down $0.27 during midday trading on Thursday, reaching $10.13. The stock had a trading volume of 592,324 shares, compared to its average volume of 554,948. The firm has a fifty day simple moving average of $10.37 and a two-hundred day simple moving average of $9.61. Mitek Systems has a 12-month low of $7.35 and a 12-month high of $16.24. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.67. The stock has a market cap of $458.18 million, a P/E ratio of 168.83 and a beta of 1.08.

Insider Activity at Mitek Systems

In other news, insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the transaction, the insider now owns 164,342 shares of the company's stock, valued at $1,490,581.94. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christopher H. Briggs sold 3,320 shares of Mitek Systems 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 transaction, the senior vice president now directly owns 65,353 shares of the company's stock, valued at $593,405.24. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,699 shares of company stock worth $152,140 in the last three months. Insiders own 2.10% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MITK. StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research report on Tuesday. Finally, Maxim Group raised their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.88.

About Mitek Systems

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.