William Blair Equities Analysts Raise Earnings Estimates for Mitek Systems, Inc. (NASDAQ:MITK)


Mitek Systems, Inc. (NASDAQ:MITKFree Report) – Analysts at William Blair raised their Q3 2024 EPS estimates for shares of Mitek Systems in a research note issued to investors on Tuesday, April 16th. William Blair analyst J. Roberge now expects that the software maker will earn $0.26 per share for the quarter, up from their previous forecast of $0.22. The consensus estimate for Mitek Systems’ current full-year earnings is $0.82 per share. William Blair also issued estimates for Mitek Systems’ Q4 2024 earnings at $0.26 EPS.

Mitek Systems (NASDAQ:MITKGet Free Report) last issued its quarterly earnings data on Tuesday, March 19th. The software maker reported $0.10 EPS for the quarter. The business had revenue of $37.66 million during the quarter. Mitek Systems had a net margin of 4.25% and a return on equity of 17.83%.

Several other equities analysts also recently issued reports on MITK. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research note on Tuesday. Finally, Craig Hallum raised their price target on shares of Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday.

Check Out Our Latest Stock Analysis on Mitek Systems

Mitek Systems Price Performance

MITK stock opened at $12.18 on Friday. The company has a fifty day moving average price of $12.68 and a 200-day moving average price of $11.96. The company has a market capitalization of $569.91 million, a P/E ratio of -174.00 and a beta of 1.09. Mitek Systems has a 52-week low of $8.77 and a 52-week high of $16.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.69 and a current ratio of 3.69.

Hedge Funds Weigh In On Mitek Systems

A number of hedge funds have recently bought and sold shares of MITK. Citigroup Inc. raised its stake in Mitek Systems by 2.9% during the first quarter. Citigroup Inc. now owns 255,825 shares of the software maker’s stock worth $3,752,000 after buying an additional 7,162 shares during the last quarter. Bank of Montreal Can raised its stake in Mitek Systems by 1.7% during the first quarter. Bank of Montreal Can now owns 412,568 shares of the software maker’s stock worth $6,255,000 after buying an additional 7,058 shares during the last quarter. MetLife Investment Management LLC raised its stake in Mitek Systems by 54.5% during the first quarter. MetLife Investment Management LLC now owns 23,402 shares of the software maker’s stock worth $343,000 after buying an additional 8,255 shares during the last quarter. Federated Hermes Inc. raised its stake in Mitek Systems by 41.5% during the first quarter. Federated Hermes Inc. now owns 180,972 shares of the software maker’s stock worth $2,655,000 after buying an additional 53,033 shares during the last quarter. Finally, Toronado Partners LLC grew its holdings in Mitek Systems by 6.7% in the first quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker’s stock worth $38,241,000 after purchasing an additional 164,284 shares during the period. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Company Profile

(Get Free Report)

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.

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Earnings History and Estimates for Mitek Systems (NASDAQ:MITK)



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