A share price of Mitek Systems Inc [MITK] is currently trading at $14.66, up 3.31%. An important factor to consider is whether the stock is rising or falling in short-term value. The MITK shares have gain 2.88% over the last week, with a monthly amount glided 23.61%, and seem to be holding up well over a long-time horizon.
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On 3, April 2024, Nasdaq Hearings Panel Grants Mitek’s Request for Continued Listing Pending Compliance with Filing Requirement. In a post published today on Yahoo Finance, Mitek Systems, Inc. (Nasdaq: MITK, www.miteksystems.com, “Mitek” or the “Company”), a global leader in digital identity and digital fraud prevention, today reported that on April 1, 2024, the Company received a decision from the Nasdaq Hearings Panel (the “Panel”) granting the Company’s request for continued listing on the Nasdaq Capital Market, subject to the Company filing its Quarterly Report on Form 10-Q for the quarter ended December 31, 2023 (“Q1 Form 10-Q”), on or before April 15, 2024, which will bring the Company into compliance with the Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), and certain other conditions.
From an analyst’s perspective:
Mitek Systems Inc [NASDAQ: MITK] stock has seen the most recent analyst activity on December 14, 2023, when Craig Hallum initiated its Buy rating and assigned the stock a price target of $17. H.C. Wainwright started tracking the stock assigning a Buy rating and suggested a price target of $27 on August 12, 2021. Jefferies initiated its recommendation with a Buy and recommended $20 as its price target on April 16, 2021. Maxim Group started tracking with a Buy rating for this stock on January 22, 2021, and assigned it a price target of $25. In a note dated May 01, 2020, The Benchmark Company reiterated an Buy rating on this stock and boosted its target price from $9 to $12.
Mitek Systems Inc experienced fluctuations in its stock price throughout the past year between $8.77 and $14.99. Currently, Wall Street analysts expect the stock to reach $19 within the next 12 months. Mitek Systems Inc [NASDAQ: MITK] shares were valued at $14.66 at the most recent close of the market. An investor can expect a potential return of 29.6% based on the average MITK price forecast.
Analyzing the MITK fundamentals
Trailing Twelve Months sales for Mitek Systems Inc [NASDAQ:MITK] were 172.55M which represents -2.86% decline. Gross Profit Margin for this corporation currently stands at 0.87% with Operating Profit Margin at 0.09%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.05%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.04 and Total Capital is 0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.68.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 14.32 points at the first support level, and at 13.98 for the second support level. However, for the 1st resistance point, the stock is sitting at 14.85, and for the 2nd resistance point, it is at 15.04.
Mitek Systems Inc [MITK] reported earnings per share of $0.15 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.13/share, meaning a difference of $0.02 and a surprise factor of 15.40%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were $0.2 per share as compared to estimates of $0.18 per share, a difference of $0.02 representing a surprise of 11.10%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Mitek Systems Inc [NASDAQ:MITK] is 3.69. On the other hand, the Quick Ratio is 3.69, and the Cash Ratio is 1.14. Considering the valuation of this stock, the price to sales ratio is 3.98, the price to book ratio is 3.26 and price to earnings (TTM) ratio is 83.34.
Transactions by insiders
Recent insider trading involved CARNECCHIA SCIPIO MAXIMUS, Chief Executive Officer, that happened on Dec 07 ’23 when 56113.0 shares were sold. General Manager, Diamond Michael E completed a deal on Dec 07 ’23 to sell 7242.0 shares. Meanwhile, SVP Identity Briggs Christopher H sold 2287.0 shares on Dec 07 ’23.
