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

Mitek Systems, Inc. (NASDAQ:MITK) – Equities researchers at Northland Capmk upped their Q2 2024 earnings per share (EPS) 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 previous forecast 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.

MITK has been the topic of a number of other reports. Craig Hallum upped their price target on Mitek Systems from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research note on Tuesday.

Mitek Systems Trading Down 1.6 %

Shares of MITK stock opened at $11.98 on Friday. The stock’s fifty day simple moving average is $12.69 and its 200 day simple 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. The firm has a market capitalization of $560.56 million, a P/E ratio of -171.14 and a beta of 1.09.

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

Institutional Trading of Mitek Systems

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