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

Mitek Systems, Inc. (NASDAQ:MITK) – William Blair raised their Q3 2024 earnings per share (EPS) estimates for Mitek Systems in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst J. Roberge now expects that the software maker will post earnings per share of $0.26 for the quarter, up from their previous estimate 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.

Other equities analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Mitek Systems in a report on Tuesday. Craig Hallum raised their price target on Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday.

Mitek Systems Price Performance

Shares of NASDAQ:MITK opened at $12.18 on Friday. Mitek Systems has a 1 year low of $8.77 and a 1 year high of $16.24. The business has a fifty day simple moving average of $12.68 and a 200 day simple moving average of $11.96. The company has a current ratio of 3.69, a quick ratio of 3.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $569.91 million, a price-to-earnings ratio of -174.00 and a beta of 1.09.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in Mitek Systems by 88.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,142 shares of the software maker’s stock worth $29,000 after purchasing an additional 1,475 shares during the period. Point72 Middle East FZE bought a new position in shares of Mitek Systems in the fourth quarter valued at approximately $40,000. Quarry LP raised its stake in shares of Mitek Systems by 536.0% in the first quarter. Quarry LP now owns 4,738 shares of the software maker’s stock valued at $45,000 after acquiring an additional 3,993 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Mitek Systems by 66.4% in the third quarter. Royal Bank of Canada now owns 4,954 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,977 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Mitek Systems by 32.3% in the third quarter. Covestor Ltd now owns 6,107 shares of the software maker’s stock valued at $65,000 after acquiring an additional 1,492 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

Mitek Systems Company Profile

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.