Mitek Systems Q1 EPS Forecast Reduced by Northland Capmk

Mitek Systems, Inc. (NASDAQ:MITK) – Research analysts at Northland Capmk lowered their Q1 2025 earnings per share estimates for shares of Mitek Systems in a note issued to investors on Tuesday, December 17th. Northland Capmk analyst M. Grondahl now expects that the software maker will earn $0.08 per share for the quarter, down from their previous estimate 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.

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

Several other equities analysts have also issued reports on the stock. 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 report on Tuesday. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. Finally, StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.63.

Mitek Systems Trading Up 3.0 %

NASDAQ:MITK opened at $11.43 on Friday. The firm has a 50-day simple moving average of $9.18 and a 200-day simple moving average of $9.92. Mitek Systems has a one year low of $7.35 and a one year high of $16.24. The firm has a market cap of $492.53 million, a P/E ratio of -76.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

Hedge Funds Weigh In On Mitek Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC increased its stake in Mitek Systems by 25.5% during the 3rd 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Mitek Systems by 12.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,937 shares of the software maker’s stock valued at $201,000 after buying an additional 1,923 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after acquiring an additional 2,460 shares during the period. Janus Henderson Group PLC raised its stake in Mitek Systems by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker’s stock worth $640,000 after acquiring an additional 2,806 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Mitek Systems during the 2nd quarter worth about $32,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mitek Systems

In other news, SVP Christopher H. Briggs sold 3,320 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the sale, the senior vice president now owns 65,353 shares of the company’s stock, valued at $593,405.24. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now owns 164,342 shares in the company, valued at approximately $1,490,581.94. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock worth $152,140 over the last three months. Corporate insiders own 2.10% of the company’s stock.

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.