Mitek Systems, Inc. (MITK) Receives $10.75 Average Target Price from Analysts
Shares of Mitek Systems, Inc. (NASDAQ:MITK) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.75.
A number of research analysts recently weighed in on MITK shares. Zacks Investment Research upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. BidaskClub upgraded shares of Mitek Systems from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd.
In other Mitek Systems news, insider Michael E. Diamond sold 4,854 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total value of $41,744.40. Following the completion of the transaction, the insider now directly owns 167,499 shares of the company’s stock, valued at approximately $1,440,491.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Clark Sarah sold 7,741 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $8.56, for a total transaction of $66,262.96. Following the completion of the transaction, the vice president now directly owns 110,271 shares of the company’s stock, valued at $943,919.76. The disclosure for this sale can be found here. Insiders sold a total of 234,303 shares of company stock valued at $2,065,223 over the last quarter. 8.52% of the stock is owned by company insiders.
Mitek Systems (MITK) remained flat at $$9.00 during trading on Monday. 394,500 shares of the company were exchanged, compared to its average volume of 321,383. Mitek Systems has a fifty-two week low of $5.50 and a fifty-two week high of $10.75. The firm has a market capitalization of $312.97, a PE ratio of 23.68, a price-to-earnings-growth ratio of 4.50 and a beta of 0.66.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The business had revenue of $12.90 million during the quarter, compared to analyst estimates of $12.35 million. During the same period in the previous year, the business earned $0.07 EPS. Mitek Systems’s revenue was up 33.4% compared to the same quarter last year. sell-side analysts expect that Mitek Systems will post 0.13 EPS for the current fiscal year.
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Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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