Mitek Systems (MITK) Stock Price, News & Analysis

Company Overview

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. The company also offers MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. CheckReader enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. In addition, it provides MiVIP, an end-to-end KYC platform that allows companies to design, build, and deploy robust KYC journeys with little or no development resources; and MiPass provides protection against most sophisticated forms of identity theft and dangerous fraud techniques, such as deepfakes and synthetic identities. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice to stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. The company was incorporated in 1986 and is based in San Diego, California.

Key Stats

• Today's Range: $9.06 to $9.37
• 50-Day Range: $8.34 to $9.55
• 52-Week Range: $7.35 to $16.24
• Volume: 352,016 shs
• Average Volume: 544,893 shs
• Market Capitalization: $431.51 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $12.13
• Consensus Rating: Moderate Buy

Mitek Systems Stock Analysis - MarketRank™

Mitek Systems scored higher than 36% of companies evaluated by MarketBeat, and ranked 490th out of 647 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Mitek Systems has received a consensus rating of Moderate Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Mitek Systems has only been the subject of 1 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: 3.57%

Earnings Growth

Earnings for Mitek Systems are expected to grow by 3.57% in the coming year, from $0.56 to $0.58 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Mitek Systems is -62.27, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Mitek Systems is -62.27, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Mitek Systems has a P/B Ratio of 2.08. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

9.26% of the outstanding shares of Mitek Systems have been sold short.

Short Interest Ratio / Days to Cover

Mitek Systems has a short interest ratio ("days to cover") of 7.4.

Change versus previous month

Short interest in Mitek Systems has recently increased by 1.18%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Mitek Systems does not currently pay a dividend.

Dividend Growth

Mitek Systems does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

9.26% of the outstanding shares of Mitek Systems have been sold short.

Short Interest Ratio / Days to Cover

Mitek Systems has a short interest ratio ("days to cover") of 7.4.

Change versus previous month

Short interest in Mitek Systems has recently increased by 1.18%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 1.8 / 5
• News Sentiment: 0.26

News Sentiment

Mitek Systems has a news sentiment score of 0.26. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.63 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for Mitek Systems this week, compared to 3 articles on an average week.

Search Interest

1 people have searched for MITK on MarketBeat in the last 30 days.

MarketBeat Follows

Only 2 people have added Mitek Systems to their MarketBeat watchlist in the last 30 days. This is a decrease of -67% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Mitek Systems insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.10% of the stock of Mitek Systems is held by insiders.

Percentage Held by Institutions

83.64% of the stock of Mitek Systems is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

MITK Stock Analysis - Frequently Asked Questions

How have MITK shares performed this year?

Mitek Systems' stock was trading at $13.04 on January 1st, 2024. Since then, MITK shares have decreased by 28.4% and is now trading at $9.34.
View the best growth stocks for 2024 here.

How were Mitek Systems' earnings last quarter?

Mitek Systems, Inc. (NASDAQ:MITK) posted its quarterly earnings results on Thursday, August, 8th. The software maker reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by $0.01. The company's quarterly revenue was up 4.4% on a year-over-year basis.

Who are Mitek Systems' major shareholders?

Mitek Systems' top institutional shareholders include Independent Advisor Alliance (3.68%), State Street Corp (2.83%), Geode Capital Management LLC (2.32%) and Wellington Management Group LLP (1.70%). Insiders that own company stock include Scipio Maximus Carnecchia, Michael E Diamond, Stephen Ritter, Christopher H Briggs, Frank Teruel, Donna Wells, William K Aulet and Jason Gray.
View institutional ownership trends.

How do I buy shares of Mitek Systems?

Shares of MITK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Mitek Systems own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Mitek Systems investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Meta Platforms (META), Tesla (TSLA), Broadcom (AVGO), Netflix (NFLX) and PayPal (PYPL).

Company Calendar

• Last Earnings: 8/08/2024
• Today: 11/22/2024
• Next Earnings (Estimated): 3/18/2025
• Fiscal Year End: 9/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Computer peripheral equipment, not elsewhere classified
• Sub-Industry: Computer Hardware
• Current Symbol: NASDAQ:MITK
• CUSIP: N/A
• CIK: 807863
• Web: www.miteksystems.com
• Phone: (619) 269-6800
• Fax: 619-269-6801
• Employees: 573
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $12.13
• High Stock Price Target: $15.00
• Low Stock Price Target: $9.50
• Potential Upside/Downside: +29.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.75
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.15)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 16.68
• P/E Growth: N/A
• Net Income: $8.03 million
• Net Margins: -4.05%
• Pretax Margin: -7.01%
• Return on Equity: 12.32%
• Return on Assets: 6.36%

Debt

• Debt-to-Equity Ratio: 0.68
• Current Ratio: 4.46
• Quick Ratio: 4.46

Sales & Book Value

• Annual Sales: $172.55 million
• Price / Sales: 2.50
• Cash Flow: $1.45 per share
• Price / Cash Flow: 6.44
• Book Value: $4.50 per share
• Price / Book: 2.08

Miscellaneous

• Outstanding Shares: 46,200,000
• Free Float: 45,234,000
• Market Cap: $431.51 million
• Optionable: Optionable
• Beta: 1.07