Analysts Set Expectations for Mitek Systems, Inc.’s Q1 2024 Earnings (NASDAQ:MITK)

Mitek Systems, Inc. (NASDAQ:MITKFree Report) – Equities research analysts at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for shares of Mitek Systems in a research note issued to investors on Wednesday, March 20th. William Blair analyst J. Roberge now expects that the software maker will earn $0.21 per share for the quarter, up from their previous forecast of $0.17. The consensus estimate for Mitek Systems’ current full-year earnings is $0.89 per share.

Several other analysts have also recently issued reports on the stock. Craig Hallum initiated coverage on shares of Mitek Systems in a research report on Thursday, December 14th. They set a “buy” rating and a $17.00 target price on the stock. StockNews.com lowered Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Wednesday.

View Our Latest Research Report on MITK

Mitek Systems Price Performance

MITK stock opened at $12.46 on Friday. Mitek Systems has a 52 week low of $8.77 and a 52 week high of $13.98. The firm has a market capitalization of $583.00 million, a P/E ratio of 77.88 and a beta of 1.07. The company has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $11.64. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On Mitek Systems

Large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Mitek Systems by 4.6% in the 2nd quarter. BlackRock Inc. now owns 3,503,309 shares of the software maker’s stock worth $37,976,000 after buying an additional 153,649 shares during the period. Vanguard Group Inc. increased its stake in shares of Mitek Systems by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock valued at $44,065,000 after buying an additional 92,146 shares during the period. Legal & General Group Plc raised its holdings in shares of Mitek Systems by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock valued at $39,711,000 after acquiring an additional 193,443 shares in the last quarter. Blue Grotto Capital LLC lifted its position in shares of Mitek Systems by 14.6% in the 1st quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock worth $38,359,000 after purchasing an additional 333,966 shares during the period. Finally, Toronado Partners LLC increased its holdings in Mitek Systems by 6.7% during the first quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker’s stock valued at $38,241,000 after buying an additional 164,284 shares during the period. Hedge funds and other institutional investors own 74.83% of the company’s stock.

Mitek Systems Company Profile

(Get Free Report)

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.

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