Equities Analysts Issue Forecasts for Mitek Systems, Inc.’s Q3 2024 Earnings (NASDAQ:MITK)

Mitek Systems, Inc. (NASDAQ:MITK) – Research analysts at William Blair raised their Q3 2024 earnings estimates for Mitek Systems in a report released on Tuesday, April 16th. William Blair analyst J. Roberge now anticipates that the software maker will post earnings of $0.26 per share for the quarter, up from their previous forecast of $0.22. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. William Blair also issued estimates for Mitek Systems’ Q4 2024 earnings at $0.26 EPS.

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Mitek Systems in a research report on Tuesday. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Craig Hallum increased their price objective on shares of Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday.

Mitek Systems Stock Down 1.6 %

Shares of Mitek Systems stock opened at $11.98 on Friday. The company has a market cap of $560.56 million, a price-to-earnings ratio of -171.14 and a beta of 1.09. The company’s 50 day moving average is $12.69 and its 200 day moving average is $11.95. Mitek Systems has a twelve month low of $8.77 and a twelve month high of $16.24. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.66.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Tuesday, March 19th. The software maker reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $37.66 million for the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%.

Institutional Trading of Mitek Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in Mitek Systems by 88.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock valued at $29,000 after buying an additional 1,475 shares during the last quarter. Point72 Middle East FZE purchased a new stake in Mitek Systems during the fourth quarter valued at approximately $40,000. Quarry LP increased its holdings in Mitek Systems by 536.0% during the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after buying an additional 3,993 shares during the last quarter. Royal Bank of Canada increased its holdings in Mitek Systems by 66.4% during the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after buying an additional 1,977 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Mitek Systems by 32.3% during the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after buying an additional 1,492 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

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.