Mitek Systems (MITK) Set to Announce Earnings on Thursday

Key Points

• Mitek Systems is expected to report earnings after Thursday’s market close, with analysts forecasting $0.168 in earnings per share and $44.71 million in revenue.
• In its previous quarter, Mitek beat expectations with EPS of $0.34 versus $0.28 expected and revenue of $54.04 million versus $50.82 million estimated.
• The stock opened at $18.13, while analysts maintain an overall “Hold” rating and a consensus price target of $19.33.

Mitek Systems (NASDAQ:MITK - Get Free Report) is anticipated to release its results after the market closes on Thursday, October 29th. Analysts expect the company to announce earnings of $0.1680 per share and revenue of $44.71 million for the quarter.

Mitek Systems (NASDAQ:MITK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.06. The firm had revenue of $54.04 million for the quarter, compared to analyst estimates of $50.82 million. Mitek Systems had a net margin of 11.39% and a return on equity of 19.16%. On average, analysts expect Mitek Systems to post $0.91 EPS for the current fiscal year and $1.08 EPS for the next fiscal year.

Mitek Systems Price Performance

Shares of MITK opened at $18.13 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.74 and a quick ratio of 2.74. The company's fifty day moving average price is $17.73 and its 200-day moving average price is $16.93. Mitek Systems has a 1-year low of $8.53 and a 1-year high of $21.05. The firm has a market capitalization of $818.06 million, a PE ratio of 38.58 and a beta of 0.94.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Mitek Systems in a research note on Friday, August 7th. Zacks Research downgraded Mitek Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. Maxim Group set a $26.00 target price on Mitek Systems in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.33.

About Mitek Systems

Mitek Systems, Inc NASDAQ: MITK develops software for digital identity verification, fraud prevention and mobile banking. Its technology enables organizations to verify individuals and documents remotely, helping businesses establish trust in digital transactions while reducing identity-related risk.

The company's products include digital identity verification solutions, document verification and authentication tools, biometric technologies, and fraud detection capabilities. Mitek also provides mobile deposit technology, which allows consumers to deposit checks by capturing images with a smartphone or other mobile device.

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