Mitek Systems (NASDAQ:MITK) Posts Earnings Results, Misses Estimates By $0.07 EPS

Mitek Systems (NASDAQ:MITK) posted its quarterly earnings data on Monday. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. Mitek Systems updated its FY 2025 guidance to EPS.

Mitek Systems Stock Up 5.2 %

Shares of NASDAQ:MITK opened at $11.02 on Tuesday. Mitek Systems has a 12-month low of $7.35 and a 12-month high of $16.24. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average price is $10.30 and its 200-day moving average price is $9.62. The stock has a market capitalization of $498.43 million, a P/E ratio of 183.67 and a beta of 1.08.

Wall Street Analyst Weigh In

MITK has been the subject of several research analyst reports. StockNews.com raised Mitek Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 25th. HC Wainwright boosted their target price on Mitek Systems from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mitek Systems has a consensus rating of “Buy” and an average price target of $12.63.

Insider Activity at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the sale, the senior vice president now directly owns 65,353 shares of the company’s stock, valued at $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason Gray sold 6,222 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now directly owns 164,342 shares of the company’s stock, valued at $1,490,581.94. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,699 shares of company stock worth $152,140 in the last ninety days. 2.10% of the stock is owned by company insiders.

Mitek Systems Company Profile

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.