Roth Capital set a $14.00 price objective on Mitek Systems (NASDAQ:MITK) in a report published on Friday, TipRanks reports. The brokerage currently has a buy rating on the software maker’s stock.
MITK has been the topic of a number of other research reports. BidaskClub raised WhiteHorse Finance from a sell rating to a hold rating in a report on Thursday, July 18th. Benchmark reaffirmed a buy rating and issued a $120.00 target price (up previously from $110.00) on shares of SPS Commerce in a report on Thursday, May 2nd. National Securities reaffirmed a neutral rating and issued a $11.00 target price on shares of Horizon Technology Finance in a report on Thursday, May 2nd. Finally, Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $14.75.
NASDAQ:MITK traded down $0.18 during trading hours on Friday, reaching $11.02. 364,192 shares of the company were exchanged, compared to its average volume of 441,979. The firm has a market capitalization of $415.62 million, a P/E ratio of 84.77, a P/E/G ratio of 4.88 and a beta of -0.22. Mitek Systems has a 1-year low of $6.32 and a 1-year high of $13.07. The firm has a 50 day moving average of $9.89.
Mitek Systems (NASDAQ:MITK) last issued its earnings results on Wednesday, May 1st. The software maker reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. The firm had revenue of $19.98 million for the quarter, compared to the consensus estimate of $19.20 million. Mitek Systems had a positive return on equity of 4.43% and a negative net margin of 11.79%. The company’s revenue was up 39.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. Equities research analysts anticipate that Mitek Systems will post 0.15 earnings per share for the current fiscal year.
In other news, insider Jason Gray sold 7,145 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.60, for a total value of $82,882.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael E. Diamond sold 38,587 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $11.00, for a total value of $424,457.00. Following the completion of the transaction, the insider now owns 221,477 shares of the company’s stock, valued at $2,436,247. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,809 shares of company stock worth $632,224. Company insiders own 8.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Mitek Systems by 30,452.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,027 shares of the software maker’s stock valued at $86,000 after acquiring an additional 7,004 shares during the last quarter. Harvest Management LLC lifted its stake in shares of Mitek Systems by 480.0% in the 1st quarter. Harvest Management LLC now owns 58,000 shares of the software maker’s stock valued at $710,000 after acquiring an additional 48,000 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Mitek Systems in the 1st quarter valued at $122,000. Geode Capital Management LLC lifted its stake in shares of Mitek Systems by 12.7% in the 4th quarter. Geode Capital Management LLC now owns 387,747 shares of the software maker’s stock valued at $4,191,000 after acquiring an additional 43,719 shares during the last quarter. Finally, Independent Advisor Alliance lifted its stake in shares of Mitek Systems by 1.6% in the 1st quarter. Independent Advisor Alliance now owns 634,420 shares of the software maker’s stock valued at $7,765,000 after acquiring an additional 10,075 shares during the last quarter. Institutional investors own 57.47% of the company’s stock.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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