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Friday, September 29, 2023

Taking On Challenges And Growing? – Mitek Systems Inc. (MITK)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Mitek Systems Inc. (MITK) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.05, or 0.44%, to $11.40. The Mitek Systems Inc. has recorded 11,151 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Mitek named Leader in Javelin Strategy & Research’s 2023 Know Your Customer Solution Scorecard.

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Stocks Info

This NASDAQ-listed company operates within the Software – Application industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $11.35 and fluctuated between $11.46 as its day high and $11.23 as its day low. The current market capitalization of Mitek Systems Inc. is $508.59M. A total of 0.22 million shares were traded on the day, compared to an average of 322.95K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, MITK has seen 0 BUY and 0 SELL insider trades, representing the acquisition of 0 and the disposition of 0 shares. Over the last 12 months, there were 7 BUYs and 9 SELLs from insiders. Insiders purchased 277,503 shares during that period but sold 50,298.

In the most recent transaction, CARNECCHIA SCIPIO MAXIMUS sold 26,693 shares of MITK for 10.71 per share on Nov 28. After the transaction, the Chief Executive Officer now owns 278,287 company shares. In a previous transaction on Nov 28, Diamond Michael E sold 3,019 shares at 10.71 per share. MITK shares that General Manager owns now total 197,033.

Among the insiders who sold shares, Ritter Stephen disposed of 2,797 shares on Nov 28 at a per-share price of $10.71. This resulted in the Chief Technology Officer holding 182,310 shares of MITK after the transaction. In another insider transaction, Teruel Frank sold 450 shares at $10.71 per share on Nov 28. Company shares held by the CFO now total 66,642.



Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for MITK in the last 3 months, the mean price target is $17.25 with high estimates of $21.00 and low estimates of $13.00. In terms of 52-week highs and lows, MITK has a high of $12.66 and a low of $8.60.

As of this writing, MITK has an earnings estimate of $0.2 per share for the current quarter. EPS was calculated based on a consensus of 5 estimates, with a high estimate of $0.23 per share and a lower estimate of $0.17. The company reported an EPS of $0.23 in the last quarter, which was 15.00% higher than expectations of $0.2.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. MITK’s latest balance sheet shows that the firm has $179.37M in Cash & Short Term Investments as of fiscal 2021. There were $129.45M in debt and $38.46M in liabilities at the time. Its Book Value Per Share was $3.85, while its Total Shareholder’s Equity was $193.26M.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MITK is Buy with a score of 5.00.

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