Mitek Systems (MITK) Downgraded to Hold at BidaskClub

Share on StockTwits

BidaskClub downgraded shares of Mitek Systems (NASDAQ:MITK) from a buy rating to a hold rating in a research note released on Friday.

A number of other equities research analysts have also recently commented on the company. Benchmark upgraded Mitek Systems from a hold rating to a buy rating and set a $12.00 price target for the company in a research note on Tuesday, November 27th. Zacks Investment Research upgraded Mitek Systems from a hold rating to a buy rating and set a $11.00 price target for the company in a research note on Tuesday, November 6th. National Securities set a $18.00 price target on Mitek Systems and gave the company a buy rating in a research note on Friday, November 2nd. Finally, ValuEngine upgraded Mitek Systems from a hold rating to a buy rating in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Mitek Systems has a consensus rating of Buy and a consensus price target of $13.67.

Mitek Systems stock opened at $8.97 on Friday. Mitek Systems has a one year low of $6.32 and a one year high of $10.00. The stock has a market capitalization of $343.95 million, a price-to-earnings ratio of 91.00, a price-to-earnings-growth ratio of 3.14 and a beta of -0.39.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, November 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Mitek Systems had a positive return on equity of 5.75% and a negative net margin of 18.58%. The company had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $20.09 million. During the same period last year, the business posted $0.11 earnings per share. The firm’s revenue was up 62.8% compared to the same quarter last year. As a group, equities research analysts predict that Mitek Systems will post 0.19 EPS for the current year.

In other news, CTO Stephen Ritter sold 3,120 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $9.40, for a total value of $29,328.00. Following the completion of the transaction, the chief technology officer now directly owns 219,654 shares in the company, valued at $2,064,747.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James B. Debello sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $9.46, for a total value of $473,000.00. Following the completion of the transaction, the chief executive officer now owns 710,695 shares of the company’s stock, valued at $6,723,174.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,304 shares of company stock valued at $1,190,878. 8.52% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. MML Investors Services LLC purchased a new position in shares of Mitek Systems in the third quarter worth about $100,000. Virtu Financial LLC purchased a new position in shares of Mitek Systems in the third quarter worth about $104,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Mitek Systems in the second quarter worth about $122,000. Mackay Shields LLC purchased a new position in shares of Mitek Systems in the second quarter worth about $208,000. Finally, Eqis Capital Management Inc. purchased a new position in shares of Mitek Systems in the second quarter worth about $239,000. Hedge funds and other institutional investors own 46.79% of the company’s stock.

About Mitek Systems

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.

Further Reading: What is an SEC Filing?

Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2019 BBNS.