Mitek Systems Q1 EPS Forecast Increased by William Blair

Mitek Systems, Inc. (NASDAQ:MITK - Free Report) - Equities researchers at William Blair boosted their Q1 2025 EPS estimates for shares of Mitek Systems in a note issued to investors on Tuesday, December 17th. William Blair analyst J. Roberge now expects that the software maker will post earnings of $0.05 per share for the quarter, up from their previous forecast of $0.04. The consensus estimate for Mitek Systems' current full-year earnings is $0.56 per share.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings results on Monday, December 16th. The software maker reported $0.33 EPS 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 firm had revenue of $43.22 million during the quarter, compared to the consensus estimate of $41.30 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. Mitek Systems's revenue for the quarter was up 14.8% on a year-over-year basis.

A number of other research firms also recently commented on MITK. Jefferies Financial Group downgraded 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. HC Wainwright upped their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the company a "buy" rating in a research note 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 given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.63.

Mitek Systems Stock Up 3.2 %

Shares of Mitek Systems stock traded up $0.34 on Thursday, hitting $11.10. 1,495,308 shares of the company's stock traded hands, compared to its average volume of 566,607. Mitek Systems has a 52-week low of $7.35 and a 52-week high of $16.24. 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 stock has a market cap of $478.31 million, a P/E ratio of -74.00 and a beta of 1.12. The firm's 50-day moving average is $9.18 and its 200 day moving average is $9.92.

Insider Buying and Selling at Mitek Systems

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction that occurred 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 transaction, the insider now directly owns 164,342 shares in the company, valued at $1,490,581.94. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael E. Diamond sold 4,544 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock worth $152,140 over the last 90 days. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Mitek Systems

A number of hedge funds have recently added to or reduced their stakes in MITK. BNP Paribas Financial Markets boosted its position in shares of Mitek Systems by 357.0% during the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker's stock worth $716,000 after buying an additional 64,509 shares during the period. EVR Research LP bought a new stake in Mitek Systems during the 2nd quarter valued at $2,957,000. Marshall Wace LLP boosted its position in Mitek Systems by 251.1% during the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker's stock worth $3,456,000 after acquiring an additional 221,116 shares during the period. Creative Planning bought a new position in shares of Mitek Systems in the third quarter worth $152,000. Finally, Foundry Partners LLC acquired a new position in shares of Mitek Systems during the second quarter valued at $3,275,000. 83.64% of the stock is currently owned by institutional investors.

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.