Shares of Mitek Systems Inc. (NASDAQ:MITK) were down 1.7% on Thursday . The stock traded as low as $7.00 and last traded at $7.10, with a volume of 421,112 shares changing hands. The stock had previously closed at $7.22.

Several analysts have recently weighed in on MITK shares. TheStreet cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Zacks Investment Research cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Saturday, April 16th. Roth Capital started coverage on shares of Mitek Systems in a research report on Thursday, April 14th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Benchmark Co. raised their price objective on shares of Mitek Systems from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, March 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Mitek Systems currently has an average rating of “Buy” and a consensus target price of $8.33.

The company has a 50-day moving average price of $7.76 and a 200 day moving average price of $6.24. The firm has a market cap of $250.95 million and a P/E ratio of 112.90.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, April 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $8.52 million for the quarter, compared to the consensus estimate of $7.38 million. During the same quarter last year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was up 49.5% compared to the same quarter last year. On average, equities analysts forecast that Mitek Systems Inc. will post $0.24 earnings per share for the current year.

In related news, CEO James B. Debello sold 59,091 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $8.11, for a total transaction of $479,228.01. Following the completion of the sale, the chief executive officer now directly owns 803,789 shares in the company, valued at $6,518,728.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Russell C. Clark sold 109,568 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $8.03, for a total transaction of $879,831.04. Following the sale, the chief financial officer now owns 257,204 shares of the company’s stock, valued at $2,065,348.12. The disclosure for this sale can be found here.

Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with camera-equipped smartphones and tablets instead of using the device keyboard.

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