Mitek Systems Inc. (MITK) Trading 3.8% Higher
Mitek Systems Inc. (NASDAQ:MITK) traded up 3.8% during trading on Tuesday . The stock traded as high as $7.38 and last traded at $7.34, with a volume of 394,328 shares trading hands. The stock had previously closed at $7.07.
Several equities research analysts recently commented on the company. TheStreet upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 29th. Zacks Investment Research lowered Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Needham & Company LLC raised Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Monday, July 11th. Finally, Roth Capital reaffirmed a “buy” rating and set a $9.75 price target on shares of Mitek Systems in a research note on Thursday, June 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.63.
The stock has a market cap of $231.37 million and a price-to-earnings ratio of 119.83. The firm has a 50-day moving average price of $7.50 and a 200-day moving average price of $6.69.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. During the same quarter in the prior year, the firm posted $0.07 EPS. The company earned $9.10 million during the quarter, compared to analysts’ expectations of $8.31 million. The firm’s quarterly revenue was up 41.3% on a year-over-year basis. On average, analysts anticipate that Mitek Systems Inc. will post $0.24 earnings per share for the current year.
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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