Roth Capital lowered shares of Mitek Systems (NASDAQ:MITK) from a buy rating to a neutral rating in a research note released on Friday, Briefing.com Automated Import reports. Roth Capital currently has $8.00 price objective on the software maker’s stock, down from their prior price objective of $12.50.
Other equities analysts have also recently issued reports about the company. ValuEngine cut Mitek Systems from a buy rating to a hold rating in a report on Thursday, September 26th. BidaskClub cut Mitek Systems from a sell rating to a strong sell rating in a report on Wednesday, November 13th. Finally, Zacks Investment Research cut Mitek Systems from a buy rating to a hold rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $13.25.
NASDAQ:MITK traded down $0.16 during mid-day trading on Friday, hitting $7.18. 40,901 shares of the stock were exchanged, compared to its average volume of 520,105. The stock has a market capitalization of $288.87 million, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 1.94 and a beta of -0.20. The firm’s 50-day simple moving average is $9.33 and its 200 day simple moving average is $9.84. Mitek Systems has a fifty-two week low of $7.14 and a fifty-two week high of $13.07.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, November 7th. The software maker reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.09. The business had revenue of $25.02 million during the quarter, compared to analysts’ expectations of $25.02 million. Mitek Systems had a positive return on equity of 9.10% and a negative net margin of 0.86%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. As a group, equities analysts anticipate that Mitek Systems will post 0.25 EPS for the current fiscal year.
In other Mitek Systems news, insider Jason Gray sold 8,753 shares of Mitek Systems stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $9.84, for a total value of $86,129.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael E. Diamond sold 3,868 shares of Mitek Systems stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $9.48, for a total value of $36,668.64. The disclosure for this sale can be found here. Insiders sold a total of 14,046 shares of company stock valued at $136,307 over the last ninety days. Insiders own 8.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Mitek Systems in the 3rd quarter valued at $692,000. Teton Advisors Inc. raised its holdings in shares of Mitek Systems by 2.3% during the 3rd quarter. Teton Advisors Inc. now owns 89,500 shares of the software maker’s stock worth $864,000 after buying an additional 2,000 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Mitek Systems by 11.5% during the 3rd quarter. California Public Employees Retirement System now owns 70,928 shares of the software maker’s stock worth $684,000 after buying an additional 7,302 shares in the last quarter. P.A.W. Capital Corp raised its holdings in shares of Mitek Systems by 17.6% during the 3rd quarter. P.A.W. Capital Corp now owns 400,000 shares of the software maker’s stock worth $3,860,000 after buying an additional 60,000 shares in the last quarter. Finally, Sargent Investment Group LLC raised its holdings in shares of Mitek Systems by 3.6% during the 3rd quarter. Sargent Investment Group LLC now owns 680,675 shares of the software maker’s stock worth $6,569,000 after buying an additional 23,790 shares in the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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