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Mitek Systems (MITK-Q)
NASDAQ:MITK
8.86
0.16
(1.84%) 1d
Financials
Technical Analysis
This summary was created by AI, based on 1 opinions in the last 12 months.
Mitek Systems (MITK-Q) has faced some challenges due to recent changes in the SEC's EDGAR public filing system, resulting in reporting issues that are perceived negatively by the market. Despite a dip in earnings per share (EPS) from 22 cents to 15 cents year-over-year, the figure exceeded the 14 cents that analysts estimated. While the revenue fell by 5% to $37.7 million, it remained in line with estimates. The company has slightly adjusted its annual forecast to over $180 million, which is below market expectations of $182.2 million, leading to a sense of disappointment among investors. However, experts note that the issues appear to stem from regulatory changes rather than fundamental weaknesses, and the balance sheet remains solid with an anticipated growth rate of 20%. Overall, while there are some concerns, the outlook is not considered dire.
With continuing issues of being non-compliant and receiving a 'delisting determination' from the Nasdaq, we would continue to see this name as a hold. Momentum and earnings results have been improving, but the inability to comply and report in a timely manner is concerning and representative of a management team that is currently not executing well. We like the company's operations and its fundamentals, however, due to its non-compliance and notice that its 10-Q for the period ending December 31, 2023, which is due on February 9, 2024, will not be completed until its 10-K has been filed. Until these issues resolve, we would be comfortable holding the name.
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Mitek Systems(MITK-Q) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 0
Neutral - Hold Signals / Votes : 1
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 1
Mitek Systems(MITK-Q) Frequently Asked Questions
What is Mitek Systems stock symbol?
Mitek Systems is a American stock, trading under the symbol MITK-Q on the NASDAQ (MITK). It is usually referred to as NASDAQ:MITK or MITK-Q
Is Mitek Systems a buy or a sell?
In the last year, 1 stock analyst published opinions about MITK-Q. 0 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Mitek Systems.
Is Mitek Systems a good investment or a top pick?
Mitek Systems was never recommended as a Top Pick on Stockchase. Read the latest stock experts ratings for Mitek Systems.
Why is Mitek Systems stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Mitek Systems worth watching?
1 stock analyst on Stockchase covered Mitek Systems In the last year. It is a trending stock that is worth watching.
What is Mitek Systems stock price?
On 2025-03-14, Mitek Systems (MITK-Q) stock closed at a price of $8.86.
Small companies often have reporting and regulatory issues, but they are not always 'bad' in reality, but always bad in perception. In the most recent case, we think the reasons are benign. The SEC has made changes to its EDGAR public filing system, and MITK says it had issues resulting in problems transferring its files to the new system. Some other companies have also experienced such issues. EPS of 15c fell from 22c last year, but were ahead of 14c estimated. Revenue was in line with estimates but fell 5% to $37.7M. However, its year forecast was marginally reduced to $180M+, below estimates of $182.2M. A bit disappointing, but hardly a disaster here, really. The balance sheet is still decent and 20% growth is still expected.
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