Mitek Systems (NASDAQ:MITK) Issues Earnings Results, Misses Expectations By $0.07 EPS

Mitek Systems (NASDAQ:MITK) announced its quarterly earnings data on Monday. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. Mitek Systems had a return on equity of 16.64% and a net margin of 1.90%. Mitek Systems updated its FY 2025 guidance to EPS.

Mitek Systems Stock Down 7.8 %

Mitek Systems stock opened at $10.16 on Wednesday. The firm has a 50 day simple moving average of $10.32 and a 200 day simple moving average of $9.60. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.67. Mitek Systems has a 1-year low of $7.35 and a 1-year high of $16.24. The firm has a market capitalization of $459.54 million, a price-to-earnings ratio of 169.33 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MITK. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Maxim Group raised their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.88.

Insiders Place Their Bets

In other Mitek Systems news, insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were 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 directly owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher H. Briggs sold 3,320 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total transaction of $30,145.60. Following the completion of the transaction, the senior vice president now directly owns 65,353 shares in the company, valued at approximately $593,405.24. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,699 shares of company stock worth $152,140 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Mitek Systems Company Profile

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.