Mitek Systems Inc. (MITK) Trading 3% Higher
Shares of Mitek Systems Inc. (NASDAQ:MITK) traded up 3% on Tuesday . The stock traded as high as $7.56 and last traded at $7.48, with a volume of 303,567 shares changing hands. The stock had previously closed at $7.26.
A number of analysts have recently commented on the stock. TheStreet upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Zacks Investment Research cut shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. Needham & Company LLC upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Monday, July 11th. Finally, Roth Capital restated a “buy” rating and set a $9.75 target price on shares of Mitek Systems in a report on Thursday, June 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Mitek Systems has a consensus rating of “Buy” and a consensus target price of $8.63.
The stock has a 50-day moving average price of $7.48 and a 200 day moving average price of $6.75. The stock has a market cap of $244.80 million and a P/E ratio of 126.78.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. During the same quarter in the previous year, the company posted $0.07 EPS. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.31 million. The business’s quarterly revenue was up 41.3% on a year-over-year basis. On average, equities analysts expect that Mitek Systems Inc. will post $0.25 earnings per share for the current year.
An institutional investor recently raised its position in Mitek Systems stock. Coe Capital Management LLC raised its position in Mitek Systems Inc. (NASDAQ:MITK) by 28.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,655 shares of the company’s stock after buying an additional 75,000 shares during the period. Coe Capital Management LLC owned 1.06% of Mitek Systems worth $1,396,000 as of its most recent SEC filing.
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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