Brokerages Set Mitek Systems, Inc. (MITK) Price Target at $13.67
Mitek Systems, Inc. (NASDAQ:MITK) has been given an average rating of “Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.67.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. ValuEngine upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd.
In related news, insider Stephen Ritter sold 11,377 shares of Mitek Systems stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.17, for a total transaction of $127,081.09. Following the completion of the sale, the insider now owns 199,199 shares in the company, valued at approximately $2,225,052.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.20% of the company’s stock.
MITK traded up $0.01 on Wednesday, reaching $11.87. 125,994 shares of the company traded hands, compared to its average volume of 421,390. Mitek Systems has a one year low of $6.32 and a one year high of $13.07. The firm has a market capitalization of $457.13 million, a price-to-earnings ratio of 91.31, a PEG ratio of 4.97 and a beta of -0.38.
Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Mitek Systems had a negative net margin of 13.40% and a positive return on equity of 4.54%. The company had revenue of $17.68 million during the quarter, compared to analyst estimates of $17.26 million. Equities analysts predict that Mitek Systems will post 0.16 EPS for the current year.
About Mitek Systems
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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