Should I buy or sell Mitek Systems stock right now?

1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Mitek Systems in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" MITK shares. View MITK analyst ratings or view top-rated stocks .

What is Mitek Systems' stock price target for 2024?

1 equities research analysts have issued 12 month price targets for Mitek Systems' stock. Their MITK share price targets range from $19.00 to $19.00. On average, they expect the company's stock price to reach $19.00 in the next year. This suggests a possible upside of 69.9% from the stock's current price. View analysts price targets for MITK or view top-rated stocks among Wall Street analysts .

How have MITK shares performed in 2023?

Mitek Systems' stock was trading at $9.69 at the start of the year. Since then, MITK stock has increased by 15.4% and is now trading at $11.18. View the best growth stocks for 2023 here .

When is Mitek Systems' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 4th 2024. View our MITK earnings forecast .

How were Mitek Systems' earnings last quarter?

Mitek Systems, Inc. (NASDAQ:MITK) posted its earnings results on Thursday, October, 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter. The software maker had revenue of $43.07 million for the quarter. Mitek Systems had a trailing twelve-month return on equity of 19.55% and a net margin of 4.88%.

What ETF holds Mitek Systems' stock ?

iShares Virtual Work and Life Multisector ETF holds 1,514 shares of MITK stock, representing 0.50% of its portfolio.

What guidance has Mitek Systems issued on next quarter's earnings?

Mitek Systems issued an update on its FY 2023 earnings guidance on Tuesday, September, 5th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $169.00 million-$171.00 million, compared to the consensus revenue estimate of $163.61 million.

What is Max Carnecchia's approval rating as Mitek Systems' CEO?

3 employees have rated Mitek Systems Chief Executive Officer Max Carnecchia on Glassdoor.com . Max Carnecchia has an approval rating of 69% among the company's employees.

What other stocks do shareholders of Mitek Systems own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Mitek Systems investors own include Advanced Micro Devices (AMD) , NVIDIA (NVDA) , Micron Technology (MU) , Alibaba Group (BABA) , Salesforce (CRM) , Intel (INTC) , Block (SQ) , AbbVie (ABBV) , PayPal (PYPL) and Cisco Systems (CSCO) .

Who are Mitek Systems' major shareholders?

Mitek Systems' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Legal & General Group Plc (6.26%), Independent Advisor Alliance (3.95%), Toronado Partners LLC (3.05%), Ameriprise Financial Inc. (1.97%), B. Riley Asset Management LLC (1.58%) and Ranger Investment Management L.P. (1.41%). Insiders that own company stock include Frank Teruel, Jane J Thompson, Jason Gray , Jeffrey C Davison , Michael E Diamond , Scipio Maximus Carnecchia , Stephen Ritter and William K Aulet . View institutional ownership trends .

How do I buy shares of Mitek Systems?

Shares of MITK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Mitek Systems Stock Price, News & Analysis (NASDAQ:MITK)

$11.18

-0.13 (-1.15%)

(As of 03:45 PM ET)

Compare

Today's Range: $11.03
▼
$11.58
50-Day Range: $9.59
▼
$11.31
52-Week Range: $8.60
▼
$13.98

Volume: 279,918 shs
Average Volume: 343,494 shs
Market Capitalization: $509.70 million

P/E Ratio: 62.11
Dividend Yield: N/A
Price Target: $19.00

Mitek Systems MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 68.9% Upside
$19.00 Price Target
Short Interest: Bearish
7.39% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.63
Based on 3 Articles This Week
Insider Trading: Selling Shares
$75,787 Sold Last Quarter
Proj. Earnings Growth: 18.42%
From $0.76 to $0.90 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.47 out of 5 stars

Computer And Technology Sector

94th out of 596 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

2nd out of 13 stocks

3.5

Analyst's Opinion

Consensus Rating
Mitek Systems has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 1 buy rating, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $19.00, Mitek Systems has a forecasted upside of 68.9% from its current price of $11.25.
Amount of Analyst Coverage
Mitek Systems has only been the subject of 1 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
7.39% of the outstanding shares of Mitek Systems have been sold short.
Short Interest Ratio / Days to Cover
Mitek Systems has a short interest ratio ("days to cover") of 6.8.
Change versus previous month
Short interest in Mitek Systems has recently increased by 5.64%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Mitek Systems does not currently pay a dividend.
Dividend Growth
Mitek Systems does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for MITK.

2.0

News and Social Media Coverage

News Sentiment
Mitek Systems has a news sentiment score of 0.63. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Mitek Systems this week, compared to 2 articles on an average week.
Search Interest
Only 2 people have searched for MITK on MarketBeat in the last 30 days. This is a decrease of -33% compared to the previous 30 days.
MarketBeat Follows
Only 5 people have added Mitek Systems to their MarketBeat watchlist in the last 30 days. This is a decrease of -17% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Mitek Systems insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $75,787.00 in company stock.
Percentage Held by Insiders
Only 4.40% of the stock of Mitek Systems is held by insiders.
Percentage Held by Institutions
74.83% of the stock of Mitek Systems is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

3.1

Earnings and Valuation

Earnings Growth
Earnings for Mitek Systems are expected to grow by 18.42% in the coming year, from $0.76 to $0.90 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Mitek Systems is 62.50, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.54.
Price to Earnings Ratio vs. Sector
The P/E ratio of Mitek Systems is 62.50, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 235.70.
Price to Book Value per Share Ratio
Mitek Systems has a P/B Ratio of 2.95. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Mitek Systems Stock (NASDAQ:MITK)

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. The company also offers MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. CheckReader enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. In addition, it provides MiVIP, an end-to-end KYC platform that allows companies to design, build, and deploy robust KYC journeys with little or no development resources; and MiPass provides protection against most sophisticated forms of identity theft and dangerous fraud techniques, such as deepfakes and synthetic identities. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice to stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California.

MITK Stock Price History

30 days | 90 days | 365 days | Advanced Chart

MITK Stock News Headlines

November 28, 2023 | finance.yahoo.com

Abrigo and Mitek partner to enhance fraud detection for financial institutions

November 24, 2023 | finance.yahoo.com

Mitek Systems, Inc.'s (NASDAQ:MITK) Intrinsic Value Is Potentially 57% Above Its Share Price

November 29, 2023 | Tomorrow Investor (Ad)

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November 20, 2023 | americanbankingnews.com

Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells $32,310.00 in Stock

November 10, 2023 | finance.yahoo.com

With 73% ownership, Mitek Systems, Inc. (NASDAQ:MITK) boasts of strong institutional backing

November 7, 2023 | finance.yahoo.com

New Report Reveals Growing Small Business Check Fraud Problem

November 1, 2023 | markets.businessinsider.com

Jefferies Analyst Recommends Mitek Systems for Buy, Foresees Growth in Mobile Deposits and Identity Verification Businesses

October 30, 2023 | gurufocus.com

The Mitek Systems Inc (MITK) Company: A Short SWOT Analysis

November 29, 2023 | Autonomix (Ad)

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October 29, 2023 | markets.businessinsider.com

Mitek Systems Outperforms Q3 Expectations: Sustained Growth and New Partnerships Drive Analyst’s Buy Rating

October 28, 2023 | finance.yahoo.com

Mitek Systems, Inc. (NASDAQ:MITK) Q3 2023 Earnings Call Transcript

October 27, 2023 | msn.com

Update: MITK, October 27

October 26, 2023 | finance.yahoo.com

Mitek Reports Fiscal 2023 Third Quarter Financial Results; Reiterates Fiscal Full Year Guidance

October 26, 2023 | finance.yahoo.com

Mitek Systems Inc (MITK) Reports Fiscal 2023 Third Quarter Financial Results

October 25, 2023 | benzinga.com

A Preview Of Mitek Systems's Earnings

October 20, 2023 | finance.yahoo.com

Mitek to Report Fiscal 2023 Third Quarter Financial Results on October 26, 2023

October 17, 2023 | finance.yahoo.com

Mitek Appoints Technology Veteran Gillian Channer as Vice President of Identity Product Management

October 10, 2023 | finance.yahoo.com

Concerned Stockholder Group Issues Letter to Mitek Systems’ Board of Directors Regarding the Urgent Need to Explore Strategic Alternatives

October 5, 2023 | stocknews.com

3 Standout Software Stocks That Investors Are Flocking to in October

October 4, 2023 | msn.com

Mitek Systems (MITK) Price Target Increased by 22.41% to 18.11

September 28, 2023 | tmcnet.com

Mitek named leader in Liminal's analysis of companies offering account opening protection

September 28, 2023 | finance.yahoo.com

Mitek named leader in Liminal’s analysis of companies offering account opening protection

September 23, 2023 | theglobeandmail.com

Why Mitek Systems Stock Popped Today

September 21, 2023 | finance.yahoo.com

Equifax and Mitek Join Forces to Protect Consumers Online

September 20, 2023 | finance.yahoo.com

Mitek Systems, Inc. (NASDAQ:MITK) Q2 2023 Earnings Call Transcript

September 15, 2023 | finance.yahoo.com

Mitek Systems (MITK) is on the Move, Here's Why the Trend Could be Sustainable

September 15, 2023 | finanznachrichten.de

Mitek Systems, Inc. Delivers Record Fiscal Second Quarter Revenue, Up 35% Year Over Year; Reiterates Fiscal Full Year Guidance

See More Headlines

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Company Calendar

Last Earnings: 10/26/2023
Today: 11/29/2023
Next Earnings (Estimated): 7/04/2024
Fiscal Year End: 9/30/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer peripheral equipment, not elsewhere classified
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:MITK
CUSIP: N/A
CIK: 807863
Web: www.miteksystems.com
Phone: (619) 269-6800
Fax: 619-269-6801
Employees: 565
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $19.00
High Stock Price Target: $19.00
Low Stock Price Target: $19.00
Potential Upside/Downside: +67.7%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 1 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.18
Trailing P/E Ratio: 62.95
Forward P/E Ratio: 14.91
P/E Growth: N/A
Net Income: $3.03 million
Net Margins: 4.88%
Pretax Margin: 8.31%
Return on Equity: 19.55%
Return on Assets: 9.64%

Debt

Debt-to-Equity Ratio: 0.64
Current Ratio: 3.32
Quick Ratio: 3.32

Sales & Book Value

Annual Sales: $143.94 million
Price / Sales: 3.59
Cash Flow: $1.21 per share
Price / Cash Flow: 9.37
Book Value: $3.81 per share
Price / Book: 2.97

Miscellaneous

Outstanding Shares: 45,590,000
Free Float: 43,584,000
Market Cap: $516.53 million
Optionable: Optionable
Beta: 0.94

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Key Executives

Mr. Scott R. Carter (Age 53)
Executive Chair
Comp: $28.11k
Mr. Scipio Maximus Carnecchia (Age 60)
CEO & Director
Comp: $909.72k
Mr. Michael E. Diamond (Age 58)
Senior VP & GM of Digital Banking
Comp: $483.09k
Mr. Fuad Ahmad (Age 53)
Interim Chief Financial Officer
Mr. Todd Kehrli
Investor Contacts
Mr. Jason L. Gray (Age 52)
Chief Legal Officer, Chief Compliance Officer & Corporate Secretary
Comp: $575.91k
Angela M. Romei
Corporate Communications Director
Ms. Cindy White
Chief Marketing Officer
Ms. Judith Ohrn Hicks (Age 59)
Senior Vice President of People Operations
Mr. Chris Briggs
Senior VP of Identity & Head of Products

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MITK Stock Analysis - Frequently Asked Questions

Should I buy or sell Mitek Systems stock right now?: 1 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Mitek Systems in the last twelve months. There are currently 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" MITK shares.
View MITK analyst ratings or view top-rated stocks.
What is Mitek Systems' stock price target for 2024?: 1 equities research analysts have issued 12 month price targets for Mitek Systems' stock. Their MITK share price targets range from $19.00 to $19.00. On average, they expect the company's stock price to reach $19.00 in the next year. This suggests a possible upside of 69.9% from the stock's current price.
View analysts price targets for MITK or view top-rated stocks among Wall Street analysts.
How have MITK shares performed in 2023?: Mitek Systems' stock was trading at $9.69 at the start of the year. Since then, MITK stock has increased by 15.4% and is now trading at $11.18.
View the best growth stocks for 2023 here.
When is Mitek Systems' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, July 4th 2024.
View our MITK earnings forecast.
How were Mitek Systems' earnings last quarter?: Mitek Systems, Inc. (NASDAQ:MITK) posted its earnings results on Thursday, October, 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter. The software maker had revenue of $43.07 million for the quarter. Mitek Systems had a trailing twelve-month return on equity of 19.55% and a net margin of 4.88%.
What ETF holds Mitek Systems' stock ?: iShares Virtual Work and Life Multisector ETF holds 1,514 shares of MITK stock, representing 0.50% of its portfolio.

What guidance has Mitek Systems issued on next quarter's earnings?: Mitek Systems issued an update on its FY 2023 earnings guidance on Tuesday, September, 5th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $169.00 million-$171.00 million, compared to the consensus revenue estimate of $163.61 million.
What is Max Carnecchia's approval rating as Mitek Systems' CEO?: 3 employees have rated Mitek Systems Chief Executive Officer Max Carnecchia on Glassdoor.com. Max Carnecchia has an approval rating of 69% among the company's employees.
What other stocks do shareholders of Mitek Systems own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Mitek Systems investors own include Advanced Micro Devices (AMD), NVIDIA (NVDA), Micron Technology (MU), Alibaba Group (BABA), Salesforce (CRM), Intel (INTC), Block (SQ), AbbVie (ABBV), PayPal (PYPL) and Cisco Systems (CSCO).
Who are Mitek Systems' major shareholders?: Mitek Systems' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Legal & General Group Plc (6.26%), Independent Advisor Alliance (3.95%), Toronado Partners LLC (3.05%), Ameriprise Financial Inc. (1.97%), B. Riley Asset Management LLC (1.58%) and Ranger Investment Management L.P. (1.41%). Insiders that own company stock include Frank Teruel, Jane J Thompson, Jason Gray, Jeffrey C Davison, Michael E Diamond, Scipio Maximus Carnecchia, Stephen Ritter and William K Aulet.
View institutional ownership trends.
How do I buy shares of Mitek Systems?: Shares of MITK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:MITK) was last updated on 11/29/2023 by MarketBeat.com Staff

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