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

Mitek Systems (MITK) reported quarterly earnings results on Thursday, Apr-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 $8.52 million in the period, compared to analysts expectations of $7.38 million. The company’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on Mitek Systems. Company shares were Reiterated by The Benchmark Company on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $6.50 .

Mitek Systems closed down -0.19 points or -2.95% at $6.25 with 5,22,981 shares getting traded on Wednesday. Post opening the session at $6.43, the shares hit an intraday low of $6.15 and an intraday high of $6.47 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 19, 2016, John M Thornton (director) sold 42,574 shares at $5.17 per share price. According to the SEC, on Nov 18, 2015, Russell C. Clark (Chief Financial Officer) sold 481 shares at $4.35 per share price. On Nov 10, 2015, Michael E Diamond (Chief Revenue Officer) sold 4,466 shares at $3.87 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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