Mitek Systems, Inc. (NASDAQ:MITK) Forecasted to Earn Q2 2024 Earnings of $0.25 Per Share

Mitek Systems, Inc. (NASDAQ:MITK) – Analysts at Northland Capmk raised their Q2 2024 earnings per share estimates for shares of Mitek Systems in a research note issued on Tuesday, April 16th. Northland Capmk analyst M. Grondahl now anticipates that the software maker will earn $0.25 per share for the quarter, up from their previous estimate of $0.21. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. Northland Capmk also issued estimates for Mitek Systems’ Q3 2024 earnings at $0.25 EPS.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) for the quarter. Mitek Systems had a return on equity of 17.83% and a net margin of 4.25%. The firm had revenue of $37.66 million during the quarter.

Several other brokerages have also issued reports on MITK. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Craig Hallum raised their price objective on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Tuesday, April 16th.

Mitek Systems Stock Up 1.7 %

Shares of NASDAQ:MITK opened at $12.18 on Friday. Mitek Systems has a 52-week low of $8.77 and a 52-week high of $16.24. The firm has a market capitalization of $569.90 million, a P/E ratio of -173.98 and a beta of 1.09. The stock has a 50 day moving average price of $12.68 and a 200-day moving average price of $11.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69.

Institutional Trading of Mitek Systems

Several institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in Mitek Systems by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 20,882 shares of the software maker’s stock valued at $272,000 after purchasing an additional 918 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Mitek Systems by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after purchasing an additional 963 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Mitek Systems by 0.9% during the 4th quarter. Nuveen Asset Management LLC now owns 116,242 shares of the software maker’s stock valued at $1,516,000 after purchasing an additional 1,051 shares during the last quarter. Raymond James & Associates boosted its stake in Mitek Systems by 1.8% during the 4th quarter. Raymond James & Associates now owns 73,243 shares of the software maker’s stock valued at $955,000 after purchasing an additional 1,274 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Mitek Systems by 88.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after purchasing an additional 1,475 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other 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.