NASDAQ:MITK

Mitek Systems - MITK Stock Forecast, Price & News

$9.75

+0.59 (+6.44%)

(As of 10/3/2022 12:00 AM ET)

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Today's Range: $9.27
▼
$9.89
50-Day Range: $8.90
▼
$11.63
52-Week Range: $8.32
▼
$20.42

Volume: 218,207 shs
Average Volume: 359,935 shs
Market Capitalization: $432.38 million

P/E Ratio: 69.64
Dividend Yield: N/A
Price Target: $20.67

Mitek Systems MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 112.0% Upside
$20.67 Price Target
Short Interest: Bearish
7.09% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 1.88
Based on 2 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: -5.08%
From $0.59 to $0.56 Per Share

Overall MarketRank^™

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

2.10 out of 5 stars

Computer And Technology Sector

414th out of 650 stocks

Computer Peripheral Equipment, Not Elsewhere Classified Industry

8th out of 14 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 3 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $20.67, Mitek Systems has a forecasted upside of 112.0% from its current price of $9.75.
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
7.09% 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 9.1.
Change versus previous month
Short interest in Mitek Systems has recently increased by 0.33%, indicating that investor sentiment is decreasing.

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.

3.3

News and Social Media Coverage

News Sentiment
Mitek Systems has a news sentiment score of 1.88. 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 is a higher news sentiment than the 0.56 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Mitek Systems this week, compared to 1 article on an average week.

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
71.25% 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

Earnings Growth
Earnings for Mitek Systems are expected to decrease by -5.08% in the coming year, from $0.59 to $0.56 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Mitek Systems is 69.64, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 119.44.
Price to Earnings Ratio vs. Sector
The P/E ratio of Mitek Systems is 69.64, 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 358.39.
Price to Book Value per Share Ratio
Mitek Systems has a P/B Ratio of 2.23. 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. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications. The company also provides Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion; and MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; 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. 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 that helps 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.

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MITK Stock News Headlines

September 8, 2022 | finance.yahoo.com

Mitek to Present at H.C. Wainwright’s 24th Annual Global Investment Conference on September 13, 2022

August 29, 2022 | msn.com

Misunderstood Mitek Purchase Makes Stock A Bargain

August 17, 2022 | finance.yahoo.com

Mitek Announces Receipt of Notice from Nasdaq

August 3, 2022 | seekingalpha.com

Mitek's Great Quarter Renders Softened Guidance Last Quarter Moot

July 31, 2022 | finance.yahoo.com

Slowing Rates Of Return At Mitek Systems (NASDAQ:MITK) Leave Little Room For Excitement

July 29, 2022 | seekingalpha.com

Mitek Systems stock hits near 3-month high on strong Q3 results

July 29, 2022 | seekingalpha.com

Mitek Systems, Inc. (MITK) CEO Max Carnecchia on Q3 2022 Results - Earnings Call Transcript

July 25, 2022 | nasdaq.com

Mitek Systems (NASDAQ:MITK) shareholders have endured a 50% loss from investing in the stock a year ago

July 14, 2022 | finance.yahoo.com

Mitek to Report Third Quarter Fiscal 2022 Financial Results on July 28, 2022

July 7, 2022 | morningstar.com

Mitek Systems Inc - Stock Quote MITK

July 5, 2022 | finance.yahoo.com

Is There An Opportunity With Mitek Systems, Inc.'s (NASDAQ:MITK) 24% Undervaluation?

June 22, 2022 | finance.yahoo.com

Mitek Makes Digital Access Faster and More Secure Than Ever

June 3, 2022 | seekingalpha.com

Salesforce and Mitek Systems among tech gainers; Affirm and Digital Turbine among losers

June 1, 2022 | finance.yahoo.com

Mitek to Present at the William Blair 42nd Annual Growth Stock Conference on June 7, 2022

May 31, 2022 | theglobeandmail.com

Instrument Name Mitek Systems Inc Instrument Symbol (MITK-Q)

April 29, 2022 | forbes.com

Update: MITK, MATW and SYNH, April 29

April 29, 2022 | seekingalpha.com

Mitek Systems sinks to near 2 year low despite Q2 earnings beat; H.C. Wainwright cuts PT

April 28, 2022 | seekingalpha.com

Mitek Systems, Inc. (MITK) CEO Max Carnecchia on Q2 2022 Results - Earnings Call Transcript

April 28, 2022 | finance.yahoo.com

Mitek Systems (MITK) Q2 Earnings and Revenues Beat Estimates

April 28, 2022 | investing.com

Mitek Systems Tops Q2 EPS by 4c

April 28, 2022 | finance.yahoo.com

Mitek Delivers 21% Year Over Year Revenue Growth and Transformative Acquisition of Orchestration Provider During the Quarter

April 27, 2022 | seekingalpha.com

Mitek Systems Q2 2022 Earnings Preview

April 21, 2022 | finance.yahoo.com

Mitek to Report Second Quarter Fiscal 2022 Financial Results on April 28, 2022

April 18, 2022 | finance.yahoo.com

What Type Of Shareholders Make Up Mitek Systems, Inc.'s (NASDAQ:MITK) Share Registry?

March 24, 2022 | forbes.com

Update: MITK, March 24

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MITK Company Calendar

Last Earnings: 7/28/2022
Today: 10/03/2022
Next Earnings (Estimated): 11/03/2022
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: $20.67
High Stock Price Forecast: $28.00
Low Stock Price Forecast: $15.00
Forecasted Upside/Downside: +112.0%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.14
Trailing P/E Ratio: 69.64
Forward P/E Ratio: 16.53
P/E Growth: N/A
Net Income: $7.98 million
Net Margins: 4.59%
Pretax Margin: 8.51%
Return on Equity: 16.72%
Return on Assets: 7.85%

Debt

Debt-to-Equity Ratio: 0.67
Current Ratio: 2.39
Quick Ratio: 2.39

Sales & Book Value

Annual Sales: $119.80 million
Price / Sales: 3.61
Cash Flow: $0.97 per share
Price / Cash Flow: 10.10
Book Value: $4.38 per share
Price / Book: 2.23

Miscellaneous

Outstanding Shares: 44,347,000
Free Float: 41,952,000
Market Cap: $432.38 million
Optionable: Optionable
Beta: 0.69

Key Executives

Mr. Scipio Maximus Carnecchia (Age 59)
CEO & Director
Comp: $1.18M

Mr. Frank Teruel (Age 56)
CFO & Sr. VP
Comp: $355.69k

Mr. Stephen J. Ritter (Age 52)
Chief Technology Officer
Comp: $589.28k

Mr. Michael E. Diamond (Age 57)
GM & Sr. VP of Digital Banking
Comp: $477.15k

Mr. Todd Kehrli
Investor Contacts

Mr. Scott Marcus
Gen. Counsel

Angela M. Romei
Corp. Communications Director

Ms. Cindy White
Chief Marketing Officer

Ms. Judith Ohrn Hicks (Age 58)
VP of Global People Operations

Mr. Sanjay Gupta
Sr. VP & MD

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?: 3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Mitek Systems in the last twelve months. There are currently 3 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 2022?: 3 brokers have issued 1-year price targets for Mitek Systems' stock. Their MITK share price forecasts range from $15.00 to $28.00. On average, they anticipate the company's stock price to reach $20.67 in the next year. This suggests a possible upside of 112.0% 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 2022?: Mitek Systems' stock was trading at $17.75 at the start of the year. Since then, MITK shares have decreased by 45.1% and is now trading at $9.75.
View the best growth stocks for 2022 here.
When is Mitek Systems' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our MITK earnings forecast.
How were Mitek Systems' earnings last quarter?: Mitek Systems, Inc. (NASDAQ:MITK) posted its quarterly earnings results on Thursday, July, 28th. The software maker reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The software maker earned $39.33 million during the quarter, compared to the consensus estimate of $35.99 million. Mitek Systems had a net margin of 4.59% and a trailing twelve-month return on equity of 16.72%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS.
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."
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 $9.75.
How much money does Mitek Systems make?: Mitek Systems (NASDAQ:MITK) has a market capitalization of $432.38 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 10/3/2022 by MarketBeat.com Staff

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Mitek Systems - MITK Stock Forecast, Price & News

Mitek Systems MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month