Mitek Systems, Inc. (NASDAQ:MITK) to Post Q2 2024 Earnings of $0.25 Per Share, Northland Capmk Forecasts

Mitek Systems, Inc. (NASDAQ:MITK) – Stock analysts at Northland Capmk raised their Q2 2024 earnings estimates for shares of Mitek Systems in a research report issued to clients and investors on Tuesday, April 16th. Northland Capmk analyst M. Grondahl now forecasts that the software maker will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.21. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. Northland Capmk also issued estimates for Mitek Systems’ Q3 2024 earnings at $0.25 EPS.

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

A number of other equities research analysts also recently issued reports on MITK. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Mitek Systems in a research note on Tuesday. Finally, Craig Hallum upped their target price 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 Trading Down 1.6 %

NASDAQ:MITK opened at $11.98 on Friday. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. Mitek Systems has a 12 month low of $8.77 and a 12 month high of $16.24. The company has a market cap of $560.56 million, a PE ratio of -171.14 and a beta of 1.09. The company has a 50 day simple moving average of $12.69 and a two-hundred day simple moving average of $11.95.

Hedge Funds Weigh In On Mitek Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in Mitek Systems by 52.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 389,319 shares of the software maker’s stock valued at $5,489,000 after acquiring an additional 134,502 shares during the last quarter. Vanguard Group Inc. lifted its position in Mitek Systems by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 3,379,226 shares of the software maker’s stock valued at $44,065,000 after acquiring an additional 92,146 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Mitek Systems by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the software maker’s stock valued at $383,000 after acquiring an additional 963 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Mitek Systems by 6.8% in the fourth quarter. Legal & General Group Plc now owns 3,045,287 shares of the software maker’s stock worth $39,711,000 after buying an additional 193,443 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Mitek Systems by 317.3% in the fourth quarter. Barclays PLC now owns 69,938 shares of the software maker’s stock worth $912,000 after buying an additional 53,180 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

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.