Mitek Systems (MITK) Releases Earnings Results, Beats Expectations By $0.03 EPS

Mitek Systems (MITK) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.04. The company posted revenue of $9.10 million in the period, compared to analysts expectations of $8.30 million. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

Many Wall Street Analysts have commented on Mitek Systems. Needham Upgraded Mitek Systems on Jul 12, 2016 to ” Buy”, Price Target of the shares are set at $9.50.

Mitek Systems opened for trading at $8.19 and hit $8.19 on the upside on Thursday, eventually ending the session at $7.86, with a gain of 1.03% or 0.08 points. The heightened volatility saw the trading volume jump to 8,45,616 shares. Company has a market cap of $253 M.

In a different news, on May 5, 2016, Russell C. Clark (Chief Financial Officer) sold 109,568 shares at $8.03 per share price. According to the SEC, on May 5, 2016, James B Debello (President & CEO & Chairman) sold 59,091 shares at $8.11 per share price. On Feb 19, 2016, John M Thornton (director) sold 42,574 shares at $5.17 per share price, according to the Form-4 filing with the securities and exchange commission.

Mitek Systems Inc. (Mitek) is a provider of mobile solutions. The Company is engaged in the development sale and service of software solutions related to mobile imaging. The Company’s technology allows users to deposit checks pay bills transfer credit card balances open accounts and get insurance quotes by taking pictures of various documents with their camera-equipped smartphones and tablets. IDchecker Inc. a part of the Company offers Strong ID product which provides identity document authentication solutions including passports driver licenses and identity cards across the world and Facelink facial recognition technology which is a multi-factor identity verification enables organizations to confirm the authenticity of an identity document and match it to the person presenting the document during a mobile transaction.

Mitek Systems

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