Mitek Systems Q1 EPS Forecast Decreased by Northland Capmk

Mitek Systems, Inc. (NASDAQ:MITK) – Investment analysts at Northland Capmk cut their Q1 2025 earnings per share (EPS) estimates for shares of Mitek Systems in a research note issued on Tuesday, December 17th. Northland Capmk analyst M. Grondahl now forecasts that the software maker will earn $0.08 per share for the quarter, down from their prior forecast of $0.09. The consensus estimate for Mitek Systems’ current full-year earnings is $0.56 per share. Northland Capmk also issued estimates for Mitek Systems’ FY2025 earnings at $0.64 EPS.

Several other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and lowered their price target for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Finally, HC Wainwright lifted their price objective on shares of Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Mitek Systems currently has an average rating of “Moderate Buy” and a consensus target price of $12.63.

Mitek Systems Price Performance

Shares of Mitek Systems stock opened at $11.43 on Friday. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems has a 12 month low of $7.35 and a 12 month high of $16.24. The firm has a market capitalization of $528.07 million, a PE ratio of -76.20 and a beta of 1.12. The business’s 50-day moving average price is $9.23 and its 200-day moving average price is $9.91.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.16. The company had revenue of $43.22 million during the quarter, compared to analyst estimates of $41.30 million. Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. Mitek Systems’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.15 earnings per share.

Insider Activity at Mitek Systems

In related news, insider Michael E. Diamond sold 4,544 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the sale, the insider now directly owns 166,632 shares in the company, valued at $1,514,684.88. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Gray sold 6,222 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the transaction, the insider now owns 164,342 shares in the company, valued at $1,490,581.94. This trade represents a 3.65 % 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 valued at $152,140 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mitek Systems

Large investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Mitek Systems in the 2nd quarter worth about $32,000. nVerses Capital LLC boosted its holdings in shares of Mitek Systems by 25.5% in the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after purchasing an additional 1,300 shares during the period. Avior Wealth Management LLC bought a new position in Mitek Systems in the third quarter worth approximately $60,000. Intech Investment Management LLC purchased a new position in Mitek Systems during the 3rd quarter worth $117,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems in the 2nd quarter worth $138,000. Hedge funds and other institutional investors own 83.64% 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.