Wall Street brokerages predict that Mitek Systems, Inc. (NASDAQ:MITK) will announce $0.02 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mitek Systems’ earnings, with estimates ranging from $0.01 to $0.02. Mitek Systems reported earnings of $0.03 per share in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The company is scheduled to report its next quarterly earnings report on Thursday, February 1st.

According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.29 per share for the current year, with EPS estimates ranging from $0.28 to $0.30. For the next year, analysts expect that the company will report earnings of $0.31 per share, with EPS estimates ranging from $0.30 to $0.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Mitek Systems.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Tuesday, November 7th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Mitek Systems had a net margin of 31.05% and a return on equity of 12.72%. The firm had revenue of $12.90 million during the quarter, compared to the consensus estimate of $12.35 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 33.4% compared to the same quarter last year.

MITK has been the topic of a number of analyst reports. BidaskClub lowered shares of Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Roth Capital set a $12.00 target price on shares of Mitek Systems and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Northland Securities restated a “buy” rating and set a $11.00 price target on shares of Mitek Systems in a report on Tuesday, July 25th. Finally, Benchmark Co. boosted their price objective on shares of Mitek Systems from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Mitek Systems presently has an average rating of “Buy” and a consensus price target of $10.67.

Mitek Systems (NASDAQ:MITK) traded down $0.45 during midday trading on Monday, reaching $9.00. 672,700 shares of the company traded hands, compared to its average volume of 374,302. Mitek Systems has a 52-week low of $5.26 and a 52-week high of $10.75. The stock has a market capitalization of $300.76, a PE ratio of 60.00, a P/E/G ratio of 4.50 and a beta of 0.69.

In related news, CEO James B. Debello sold 10,313 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.60, for a total value of $88,691.80. Following the sale, the chief executive officer now directly owns 909,903 shares in the company, valued at $7,825,165.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael E. Diamond sold 4,854 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total value of $41,744.40. Following the completion of the sale, the insider now owns 167,499 shares in the company, valued at $1,440,491.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,649 shares of company stock valued at $134,581. Company insiders own 8.52% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MITK. Bank of New York Mellon Corp raised its holdings in shares of Mitek Systems by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 99,118 shares of the software maker’s stock valued at $659,000 after buying an additional 3,857 shares in the last quarter. American International Group Inc. boosted its position in shares of Mitek Systems by 7.1% during the first quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock valued at $121,000 after purchasing an additional 1,197 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Mitek Systems by 43.9% in the first quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock worth $812,000 after acquiring an additional 37,271 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Mitek Systems by 8.2% in the first quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock worth $8,705,000 after acquiring an additional 99,489 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Mitek Systems by 3.5% in the first quarter. Geode Capital Management LLC now owns 241,802 shares of the software maker’s stock worth $1,607,000 after purchasing an additional 8,185 shares during the last quarter. 42.40% of the stock is currently owned by hedge funds and other institutional investors.

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About Mitek Systems

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 their camera-equipped smartphones and tablets instead of using the device keyboard.

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