NASDAQ:MITK

Mitek Systems (MITK) Stock Forecast, Price & News

$10.42

+0.33 (+3.27%)

(As of 06/6/2023 ET)

Compare

Today's Range: $10.10
▼
$10.52
50-Day Range: $8.78
▼
$10.42
52-Week Range: $8.32
▼
$11.95

Volume: 276,026 shs
Average Volume: 260,790 shs
Market Capitalization: $465.57 million

P/E Ratio: 74.43
Dividend Yield: N/A
Price Target: $16.00

Mitek Systems MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 53.6% Upside
$16.00 Price Target
Short Interest: Bearish
5.73% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.54
Based on 5 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

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

2.07 out of 5 stars

Computer And Technology Sector

330th out of 613 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

6th out of 12 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 2 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $16.00, Mitek Systems has a forecasted upside of 53.6% from its current price of $10.42.
Amount of Analyst Coverage
Mitek Systems has received no research coverage in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
5.73% of the float of Mitek Systems has been sold short.
Short Interest Ratio / Days to Cover
Mitek Systems has a short interest ratio ("days to cover") of 9.3.
Change versus previous month
Short interest in Mitek Systems has recently decreased by 2.42%, indicating that investor sentiment is improving.

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 0.54. 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 5 news articles for Mitek Systems this week, compared to 1 article on an average week.
MarketBeat Follows
Only 2 people have added Mitek Systems to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Mitek Systems insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 5.40% of the stock of Mitek Systems is held by insiders.
Percentage Held by Institutions
69.96% of the stock of Mitek Systems is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Mitek Systems is 74.43, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 132.08.
Price to Earnings Ratio vs. Sector
The P/E ratio of Mitek Systems is 74.43, 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 319.09.
Price to Book Value per Share Ratio
Mitek Systems has a P/B Ratio of 2.38. 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 (NASDAQ:MITK) Stock

Mitek Systems, Inc. engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in 1986 and is headquartered in San Diego, CA.

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MITK Stock News Headlines

June 2, 2023 | fool.com

Mitek Systems (NASDAQ: MITK)

May 31, 2023 | americanbankingnews.com

Mitek Systems (NASDAQ:MITK) Earns Hold Rating from Analysts at StockNews.com

June 6, 2023 | Behind the Markets (Ad)

The single greatest medical breakthrough of all time?

We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.

May 15, 2023 | finance.yahoo.com

Criminal Marketplaces Provide Gateway to Rising Account Fraud and Identity Theft

May 11, 2023 | msn.com

HC Wainwright & Co. Reiterates Mitek Systems (MITK) Buy Recommendation

May 10, 2023 | finance.yahoo.com

Return Trends At Mitek Systems (NASDAQ:MITK) Aren't Appealing

May 9, 2023 | markets.businessinsider.com

Mitek Systems (MITK) Receives a Buy from H.C. Wainwright

May 8, 2023 | forbes.com

Update: MITK, May 8

June 6, 2023 | Behind the Markets (Ad)

The single greatest medical breakthrough of all time?

May 4, 2023 | finance.yahoo.com

ID R&D patent award sets new benchmark for prevention of voice spoofs and deepfakes

April 27, 2023 | americanbankingnews.com

Mitek Systems (NASDAQ:MITK) Lowered to Hold at StockNews.com

April 18, 2023 | finance.yahoo.com

Mitek Adds New Defense for Banks to Combat Rising Check Fraud

April 13, 2023 | finance.yahoo.com

79 Digital Identity Stats Your Company Needs to Know in 2023

March 30, 2023 | thestreet.com

Mitek Systems Stock Gaps Down On Today's Open (MITK)

March 24, 2023 | thestreet.com

Mitek Systems Stock Hits New 52-Week Low (MITK)

February 22, 2023 | finance.yahoo.com

ID R&D Advances Biometric Security to Address Growing Threat of Deepfake Fraud

February 2, 2023 | finance.yahoo.com

ID R&D Awarded Patent for Continuous Biometric Authentication in Chatbots and Virtual Assistants

January 30, 2023 | marketwatch.com

Mitek Systems Names Scott Carter Executive Chairman >MITK

January 30, 2023 | finance.yahoo.com

Mitek Adds Industry Veteran as Executive Chairperson to Capitalize on Growth Opportunities in Identity Verification

January 18, 2023 | thestreet.com

Mitek Systems Stock Falls On Unusually High Volume (MITK)

January 15, 2023 | seekingalpha.com

Mitek Systems: Undervalued Growth For Next 5 Years

January 13, 2023 | seekingalpha.com

Mitek Systems: Identity Verification At Cheap Valuation

December 30, 2022 | finance.yahoo.com

Is It Worth Investing in Mitek Systems (MITK) Based on Wall Street's Bullish Views?

December 14, 2022 | finance.yahoo.com

Is Mitek Systems (MITK) a Buy as Wall Street Analysts Look Optimistic?

December 13, 2022 | finance.yahoo.com

With 58% ownership of the shares, Mitek Systems, Inc. (NASDAQ:MITK) is heavily dominated by institutional owners

December 9, 2022 | finance.yahoo.com

Mitek Systems (MITK) Gains As Market Dips: What You Should Know

December 3, 2022 | finance.yahoo.com

Mitek Systems (MITK) Dips More Than Broader Markets: What You Should Know

See More Headlines

MITK Price History

30 days | 90 days | 365 days | Advanced Chart

MITK Company Calendar

Last Earnings: 11/04/2021
Today: 6/06/2023
Next Earnings (Estimated): 6/08/2023
Fiscal Year End: 9/30/2023

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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: 435
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $16.00
High Stock Price Forecast: $19.00
Low Stock Price Forecast: $13.00
Forecasted Upside/Downside: +52.2%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): N/A
Trailing P/E Ratio: 75.07
Forward P/E Ratio: 15.01
P/E Growth: N/A
Net Income: N/A
Net Margins: N/A
Pretax Margin: N/A
Return on Equity: N/A
Return on Assets: N/A

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: N/A
Quick Ratio: N/A

Sales & Book Value

Annual Sales: $119.80 million
Price / Sales: 3.92
Cash Flow: $0.91 per share
Price / Cash Flow: 11.49
Book Value: $4.38 per share
Price / Book: 2.40

Miscellaneous

Outstanding Shares: 44,680,000
Free Float: 42,267,000
Market Cap: $469.59 million
Optionable: Optionable
Beta: 0.77

Key Executives

Scipio Maximus Carnecchia
Chief Executive Officer & Director

Fuad Ahmad
Chief Financial & Accounting Officer

Michael E. Diamond
Senior Vice President & General Manager-Payments

Christopher Briggs
Head-Product Development

Aaron Korsen
Senior VP-North American Identity Sales

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

MITK Stock - Frequently Asked Questions

Should I buy or sell Mitek Systems stock right now?: 2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Mitek Systems in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" MITK shares.
View MITK analyst ratings or view top-rated stocks.
What is Mitek Systems' stock price forecast for 2023?: 2 analysts have issued 12-month price targets for Mitek Systems' shares. Their MITK share price forecasts range from $13.00 to $19.00. On average, they predict the company's share price to reach $16.00 in the next twelve months. This suggests a possible upside of 52.2% 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 beginning of the year. Since then, MITK stock has increased by 8.5% and is now trading at $10.51.
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, June 8th 2023.
View our MITK earnings forecast.
How were Mitek Systems' earnings last quarter?: Mitek Systems, Inc. (NASDAQ:MITK) posted its quarterly earnings results on Thursday, November, 4th. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The software maker had revenue of $33.30 million for the quarter, compared to analyst estimates of $33.23 million. The firm's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share.
What ETFs hold Mitek Systems' stock?: ETFs with the largest weight of Mitek Systems (NASDAQ:MITK) stock in their portfolio include Invesco Nasdaq Future Gen 200 ETF (QQQS), SPDR S&P Software & Services ETF (XSW), iShares Virtual Work and Life Multisector ETF (IWFH), Global X FinTech Thematic ETF (FINX),
What guidance has Mitek Systems issued on next quarter's earnings?: Mitek Systems issued an update on its FY 2022 earnings guidance on Monday, May, 8th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $143.00 million-$144.00 million, compared to the consensus revenue estimate of $145.11 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).
What is Mitek Systems' stock symbol?: Mitek Systems trades on the NASDAQ under the ticker symbol "MITK."
Who are Mitek Systems' major shareholders?: Mitek Systems' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Blue Grotto Capital LLC (9.24%), BlackRock Inc. (7.50%), Independent Advisor Alliance (3.92%), Dimensional Fund Advisors LP (2.18%), Ameriprise Financial Inc. (2.15%) and State Street Corp (2.14%). Insiders that own company stock include Alex W Hart, Bruce Edward Hansen, Frank Teruel, Jane J Thompson, Jason Gray, Jeffrey C Davison, 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.
What is Mitek Systems' stock price today?: One share of MITK stock can currently be purchased for approximately $10.51.
How much money does Mitek Systems make?: Mitek Systems (NASDAQ:MITK) has a market capitalization of $469.59 million and generates $119.80 million in revenue each year. The software maker earns $7.98 million in net income (profit) each year or $0.14 on an earnings per share basis.
How many employees does Mitek Systems have?: The company employs 435 workers across the globe.
How can I contact Mitek Systems?: Mitek Systems' mailing address is 600 B STREET SUITE 100, SAN DIEGO CA, 92101. The official website for the company is www.miteksystems.com. The software maker can be reached via phone at (619) 269-6800, via email at ir@miteksystems.com, or via fax at 619-269-6801.

This page (NASDAQ:MITK) was last updated on 6/6/2023 by MarketBeat.com Staff

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