Q3 2024 EPS Estimates for Mitek Systems, Inc. (NASDAQ:MITK) Cut by Analyst

Mitek Systems, Inc. (NASDAQ:MITK) – Equities researchers at HC Wainwright cut their Q3 2024 earnings estimates for shares of Mitek Systems in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst S. Buck now anticipates that the software maker will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.24. HC Wainwright currently has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. HC Wainwright also issued estimates for Mitek Systems’ Q4 2024 earnings at $0.22 EPS.

Several other research analysts also recently weighed in on the stock. Craig Hallum boosted their target price on shares of Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Wednesday.

Mitek Systems Price Performance

Mitek Systems stock opened at $11.98 on Friday. Mitek Systems has a 52 week low of $8.77 and a 52 week high of $16.24. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $12.69 and its 200 day simple moving average is $11.95. The firm has a market capitalization of $560.56 million, a PE ratio of -171.14 and a beta of 1.09.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in Mitek Systems by 88.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after purchasing an additional 1,475 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Mitek Systems during the 4th quarter valued at about $40,000. Quarry LP increased its stake in shares of Mitek Systems by 536.0% during the 1st quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after acquiring an additional 3,993 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Mitek Systems by 66.4% during the 3rd quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,977 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Mitek Systems by 32.3% during the 3rd quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after acquiring an additional 1,492 shares during the last quarter. 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.