Mitek Systems (NASDAQ:MITK) Releases Earnings Results, Beats Expectations By $0.16 EPS

Mitek Systems (NASDAQ:MITK) posted its quarterly earnings results on Monday. The software maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16, Briefing.com reports. The business had revenue of $43.22 million during the quarter, compared to analysts’ expectations of $41.30 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. Mitek Systems’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.15 earnings per share. Mitek Systems updated its FY 2025 guidance to EPS.

Mitek Systems Trading Up 8.1 %

Shares of Mitek Systems stock opened at $9.49 on Tuesday. The firm’s 50 day moving average is $9.04 and its 200 day moving average is $9.91. The firm has a market capitalization of $438.48 million, a PE ratio of -63.27 and a beta of 1.12. Mitek Systems has a 1 year low of $7.35 and a 1 year high of $16.24. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MITK. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and decreased their target price for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Mitek Systems has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Insider Activity at Mitek Systems

In other news, insider Jason Gray sold 6,222 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the transaction, the insider now owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael E. Diamond sold 4,544 shares of Mitek Systems stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the sale, the insider now owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock valued at $152,140 in the last quarter. Insiders own 2.10% 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.