William Blair Research Analysts Raise Earnings Estimates for Mitek Systems, Inc. (NASDAQ:MITK)

Mitek Systems, Inc. (NASDAQ:MITK) – Analysts at William Blair increased their Q3 2024 EPS estimates for shares of Mitek Systems in a report released on Tuesday, April 16th. William Blair analyst J. Roberge now expects that the software maker will post earnings of $0.26 per share for the quarter, up from their prior estimate of $0.22. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. William Blair also issued estimates for Mitek Systems’ Q4 2024 earnings at $0.26 EPS.

A number of other research firms also recently commented on MITK. Craig Hallum boosted their target price on shares of Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Mitek Systems in a report on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday.

Mitek Systems Stock Up 1.7 %

NASDAQ MITK opened at $12.18 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.69 and a quick ratio of 3.69. The company’s 50 day simple moving average is $12.68 and its 200 day simple moving average is $11.97. Mitek Systems has a 12 month low of $8.77 and a 12 month high of $16.24. The company has a market capitalization of $569.90 million, a P/E ratio of -173.98 and a beta of 1.09.

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

Institutional Investors Weigh In On Mitek Systems

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Mitek Systems by 4.6% during the second quarter. BlackRock Inc. now owns 3,503,309 shares of the software maker’s stock valued at $37,976,000 after acquiring an additional 153,649 shares during the period. Vanguard Group Inc. raised its holdings 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 acquiring an additional 92,146 shares during the period. Legal & General Group Plc raised its holdings in shares of Mitek Systems by 6.8% during 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 during the period. Blue Grotto Capital LLC raised its holdings in shares of Mitek Systems by 14.6% during the first quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock valued at $38,359,000 after acquiring an additional 333,966 shares during the period. Finally, Toronado Partners LLC raised its holdings in shares of 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 acquiring an additional 164,284 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

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.