Shares of Mitek Systems Inc. (NASDAQ:MITK) were up 2.6% during trading on Monday . The company traded as high as $8.15 and last traded at $8.04, with a volume of 374,334 shares changing hands. The stock had previously closed at $7.84.

A number of analysts have commented on MITK shares. Roth Capital started coverage on shares of Mitek Systems in a report on Thursday, April 14th. They set a “buy” rating and a $8.00 target price for the company. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a report on Tuesday, April 5th. TheStreet raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, April 29th. Finally, Needham & Company LLC raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Monday, July 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $8.63.

The stock has a market capitalization of $259.00 million and a price-to-earnings ratio of 116.52. The firm has a 50-day moving average price of $7.51 and a 200-day moving average price of $6.49.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, April 28th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm earned $8.52 million during the quarter, compared to analyst estimates of $7.38 million. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts anticipate that Mitek Systems Inc. will post $0.23 EPS for the current year.

In related news, insider Michael E. Diamond sold 170,007 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $8.06, for a total transaction of $1,370,256.42. Following the sale, the insider now directly owns 241,892 shares in the company, valued at approximately $1,949,649.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO James B. Debello sold 59,091 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $8.11, for a total value of $479,228.01. Following the sale, the chief executive officer now owns 803,789 shares in the company, valued at $6,518,728.79. 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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