Mitek Systems, Inc. (MITK) Director Acquires $143,400.00 in Stock
Mitek Systems, Inc. (NASDAQ:MITK) Director James C. Hale III purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was acquired at an average price of $7.17 per share, for a total transaction of $143,400.00. Following the acquisition, the director now owns 111,135 shares in the company, valued at approximately $796,837.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NASDAQ:MITK opened at $7.30 on Friday. Mitek Systems, Inc. has a twelve month low of $6.85 and a twelve month high of $10.15. The company has a market capitalization of $268.36 million, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 15.78 and a beta of 0.19.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Thursday, July 26th. The software maker reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Mitek Systems had a net margin of 5.75% and a return on equity of 4.74%. The company had revenue of $16.10 million for the quarter, compared to the consensus estimate of $15.33 million. During the same quarter in the prior year, the company earned $0.08 EPS. Mitek Systems’s quarterly revenue was up 36.4% on a year-over-year basis. analysts expect that Mitek Systems, Inc. will post 0.03 earnings per share for the current year.
Several brokerages recently weighed in on MITK. National Securities reiterated a “buy” rating and issued a $17.50 price target on shares of Mitek Systems in a report on Sunday, July 29th. ValuEngine downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Friday, May 11th. BidaskClub upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 23rd. Finally, Benchmark downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Mitek Systems has an average rating of “Hold” and a consensus price target of $13.00.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.
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