Mitek Systems (NASDAQ:MITK) Posts Earnings Results, Beats Expectations By $0.01 EPS

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Mitek Systems (NASDAQ:MITK) issued its quarterly earnings results on Tuesday, January 29th. The software maker reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01, Bloomberg Earnings reports. The company had revenue of $17.68 million for the quarter, compared to the consensus estimate of $17.26 million. Mitek Systems had a positive return on equity of 4.64% and a negative net margin of 13.40%. Mitek Systems updated its FY 2019 guidance to EPS.

Shares of NASDAQ:MITK opened at $11.09 on Thursday. Mitek Systems has a fifty-two week low of $6.32 and a fifty-two week high of $11.92. The firm has a market capitalization of $432.18 million, a price-to-earnings ratio of 85.31, a P/E/G ratio of 4.72 and a beta of -0.45.

In other Mitek Systems news, CEO James B. Debello sold 42,308 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $9.41, for a total value of $398,118.28. Following the transaction, the chief executive officer now owns 718,687 shares of the company’s stock, valued at $6,762,844.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Gray sold 2,925 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $9.40, for a total value of $27,495.00. Following the completion of the transaction, the insider now directly owns 124,765 shares in the company, valued at approximately $1,172,791. The disclosure for this sale can be found here. Insiders sold 167,231 shares of company stock worth $1,646,555 over the last quarter. Company insiders own 8.20% of the company’s stock.

A number of analysts have recently issued reports on MITK shares. ValuEngine upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 2nd. BidaskClub upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 8th. Zacks Investment Research cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. National Securities set a $18.00 price objective on Mitek Systems and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, Benchmark upgraded Mitek Systems from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Mitek Systems presently has an average rating of “Buy” and a consensus target price of $13.67.

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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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Earnings History for Mitek Systems (NASDAQ:MITK)

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