Providing a diverse range of perspectives from bullish to bearish, 4 analysts have published ratings on Mitek Systems (NASDAQ:MITK) in the last three months.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 0 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $19.0, a high estimate of $19.00, and a low estimate of $19.00. Witnessing a positive shift, the current average has risen by 11.76% from the previous average price target of $17.00.
Breaking Down Analyst Ratings: A Detailed Examination
A clear picture of Mitek Systems's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Scott Buck | HC Wainwright & Co. | Maintains | Buy | $19.00 | - |
| Chad Bennett | Craig-Hallum | Raises | Buy | $19.00 | $17.00 |
| Scott Buck | HC Wainwright & Co. | Maintains | Buy | $19.00 | - |
| Scott Buck | HC Wainwright & Co. | Maintains | Buy | $19.00 | - |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Mitek Systems. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Mitek Systems compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Mitek Systems's stock. This examination reveals shifts in analysts' expectations over time.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Mitek Systems's market standing. Stay informed and make data-driven decisions with our Ratings Table.
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Delving into Mitek Systems's Background
Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.
Mitek Systems: A Financial Overview
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Challenges: Mitek Systems's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -19.22%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Mitek Systems's net margin is impressive, surpassing industry averages. With a net margin of -15.69%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Mitek Systems's ROE stands out, surpassing industry averages. With an impressive ROE of -2.77%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Mitek Systems's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -1.43%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Mitek Systems's debt-to-equity ratio surpasses industry norms, standing at 0.66. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
The Basics of Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.