Northland Capmk Predicts Lower Earnings for Mitek Systems

Mitek Systems, Inc. (NASDAQ:MITK - Free Report) - Research analysts at Northland Capmk decreased their Q1 2025 EPS estimates for shares of Mitek Systems in a research report issued on Tuesday, December 17th. Northland Capmk analyst M. Grondahl now expects that the software maker will post earnings per share of $0.08 for the quarter, down from their previous estimate of $0.09. The consensus estimate for Mitek Systems' current full-year earnings is $0.56 per share. Northland Capmk also issued estimates for Mitek Systems' FY2025 earnings at $0.64 EPS.

Several other analysts also recently commented on MITK. Jefferies Financial Group downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating and lowered their target price for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. HC Wainwright lifted their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, StockNews.com downgraded Mitek Systems from a "buy" rating to a "hold" rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.63.

Mitek Systems Stock Up 3.0 %

NASDAQ:MITK traded up $0.33 during trading hours on Friday, hitting $11.43. 1,204,874 shares of the company traded hands, compared to its average volume of 569,204. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The company has a market cap of $492.53 million, a PE ratio of -76.20 and a beta of 1.12. The firm's 50-day simple moving average is $9.18 and its 200-day simple moving average is $9.92. Mitek Systems has a one year low of $7.35 and a one year high of $16.24.

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

Hedge Funds Weigh In On Mitek Systems

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

Insider Activity at Mitek Systems

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the sale, the insider now directly owns 164,342 shares of the company's stock, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael E. Diamond sold 4,544 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total value of $41,304.96. Following the transaction, the insider now directly owns 166,632 shares in the company, valued at $1,514,684.88. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,699 shares of company stock worth $152,140. 2.10% of the stock is owned by company insiders.

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.