Mitek Systems (NASDAQ:MITK) PT Lowered to $15.00 at Northland Securities

Mitek Systems (NASDAQ:MITKGet Rating) had its price objective lowered by Northland Securities from $20.00 to $15.00 in a research report report published on Wednesday morning, The Fly reports.

Several other research analysts have also commented on MITK. StockNews.com lowered Mitek Systems from a strong-buy rating to a buy rating in a research report on Monday, April 18th. TheStreet lowered Mitek Systems from a b- rating to a c+ rating in a research report on Tuesday, May 3rd. HC Wainwright dropped their target price on Mitek Systems from $27.00 to $22.00 in a research report on Friday, April 29th. Finally, Maxim Group reaffirmed a buy rating and set a $28.00 target price on shares of Mitek Systems in a research report on Friday, April 29th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $21.00.

NASDAQ:MITK opened at $9.27 on Wednesday. The business’s 50-day moving average is $12.08 and its two-hundred day moving average is $14.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.39. Mitek Systems has a 12 month low of $8.54 and a 12 month high of $23.29. The firm has a market capitalization of $411.10 million, a PE ratio of 40.31 and a beta of 0.61.

Mitek Systems (NASDAQ:MITKGet Rating) last released its quarterly earnings data on Thursday, April 28th. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Mitek Systems had a return on equity of 17.17% and a net margin of 7.76%. The company had revenue of $34.70 million for the quarter, compared to analyst estimates of $33.02 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s revenue was up 20.6% compared to the same quarter last year. Equities analysts anticipate that Mitek Systems will post 0.57 EPS for the current year.

In other Mitek Systems news, CTO Stephen Ritter sold 2,840 shares of Mitek Systems stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $14.20, for a total value of $40,328.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scipio Maximus Carnecchia sold 9,957 shares of Mitek Systems stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $14.20, for a total value of $141,389.40. The disclosure for this sale can be found here. Insiders sold 16,958 shares of company stock valued at $240,815 over the last quarter. Insiders own 3.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of MITK. BlackRock Inc. boosted its stake in Mitek Systems by 5.5% in the third quarter. BlackRock Inc. now owns 3,224,084 shares of the software maker’s stock valued at $59,644,000 after acquiring an additional 166,825 shares during the period. Barclays PLC boosted its stake in Mitek Systems by 231.7% in the third quarter. Barclays PLC now owns 50,685 shares of the software maker’s stock valued at $938,000 after acquiring an additional 35,404 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Mitek Systems by 88.4% during the third quarter. Alliancebernstein L.P. now owns 27,700 shares of the software maker’s stock valued at $512,000 after buying an additional 13,000 shares during the last quarter. Creative Planning bought a new stake in shares of Mitek Systems during the third quarter valued at approximately $249,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Mitek Systems by 15.0% during the third quarter. Goldman Sachs Group Inc. now owns 225,594 shares of the software maker’s stock valued at $4,173,000 after buying an additional 29,500 shares during the last quarter. Institutional investors own 66.93% of the company’s stock.

Mitek Systems Company Profile (Get Rating)

Mitek Systems, Inc develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences.

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