Mitek SystemsMITK
MITK
About: 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 serves more than 7,900 financial services organizations, financial technology (fintech) brands, telecommunications companies, and marketplace brands across the globe. The company'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.
Employees: 630
0
Funds holding %
of 7,363 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
201% more call options, than puts
Call options by funds: $3.14M | Put options by funds: $1.04M
62% more capital invested
Capital invested by funds: $297M [Q3] → $481M (+$184M) [Q4]
28% more first-time investments, than exits
New positions opened: 41 | Existing positions closed: 32
4% more funds holding
Funds holding: 159 [Q3] → 166 (+7) [Q4]
2.99% more ownership
Funds ownership: 73.11% [Q3] → 76.11% (+2.99%) [Q4]
19% less repeat investments, than reductions
Existing positions increased: 46 | Existing positions reduced: 57
100% less funds holding in top 10
Funds holding in top 10: 2 [Q3] → 0 (-2) [Q4]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$13
43%
upside
Avg. target
$13.50
48%
upside
High target
$14
54%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
Maxim Group Allen Klee 43% 1-year accuracy 9 / 21 met price target | 54%upside $14 | Buy Maintained | 11 Feb 2025 |
HC Wainwright & Co. Scott Buck 28% 1-year accuracy 33 / 116 met price target | 43%upside $13 | Buy Reiterated | 11 Feb 2025 |
Financial journalist opinion
Based on 5 articles about MITK published over the past 30 days
Positive
Seeking Alpha
23 hours ago
Mitek Systems: Secular Growth Opportunity From AI-Based Threat
MITK, a digital identity verification software company, faces a secular growth opportunity driven by rising AI-based identity fraud, particularly benefiting its new product, Check Fraud Defender (CFD). Despite recent underperformance, I assign MITK a buy rating with a $10.6 target price, projecting a 15% upside by FY 2025. Slowed revenue growth resulting in net losses created appearance of underperformance due to revenue timing issues. But no meaningful structural issues exist. Balance sheet remains strong.
Neutral
Business Wire
2 weeks ago
ID R&D Delivers Industry Leading Liveness Results in U.S. Homeland Security Evaluation of Remote Identity Validation Systems
SAN DIEGO--(BUSINESS WIRE)-- #DHS--ID R&D, a Mitek Systems company, excelled in the DHS Science and Technology Directorate's evaluation of remote identity validation systems.
Neutral
Seeking Alpha
3 weeks ago
Mitek Systems, Inc. (MITK) Q1 2025 Earnings Call Transcript
Mitek Systems, Inc. (NASDAQ:MITK ) Q1 2025 Earnings Conference Call February 10, 2025 5:00 PM ET Company Participants Todd Kehrli - Investor Relations, PondelWilkinson Ed West - Chief Executive Officer Dave Lyle - Chief Financial Officer Conference Call Participants Jake Roberge - William Blair Mike Grondahl - Northland Securities Allen Klee - Maxim Group Surinder Thind - Jefferies Operator Good afternoon, and welcome to the Mitek Fiscal 2025 First Quarter Earnings Conference Call. All participants will be in listen-only mode.
Positive
Zacks Investment Research
3 weeks ago
Mitek Systems (MITK) Beats Q1 Earnings and Revenue Estimates
Mitek Systems (MITK) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.14 per share a year ago.
Neutral
Business Wire
3 weeks ago
Mitek Reports Fiscal 2025 First Quarter Financial Results
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com, “Mitek” or the “Company”), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its first quarter ended December 31, 2024 and raised the lower end of its Adjusted EBITDA margin guidance range for its fiscal 2025 full year ending September 30, 2025 (“fiscal 2025”). “We delivered a solid first quarter, with results ahead of our expectations in.
Neutral
Business Wire
1 month ago
CSI Launches Advanced Check Fraud Detection Tool in Partnership With Mitek Systems
PADUCAH, Ky.--(BUSINESS WIRE)--CSI's new solution equips bank tellers with real-time check fraud detection capabilities and more.
Neutral
Business Wire
1 month ago
Mitek Systems Announces Mark Rossi as a Nominee to its Board of Directors
SAN DIEGO--(BUSINESS WIRE)-- #BoardOfDirectors--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture, and fraud management, today announced the nomination of Mark Rossi to its board of directors. Mr. Rossi will also serve as a member of the board's audit committee, pending shareholder approval at the company's upcoming annual meeting. Mr. Rossi brings over four decades of strategic, financial, and operational expertise, having served on the boards of approximately 25.
Neutral
Business Wire
1 month ago
Mitek to Report Fiscal 2025 First Quarter Financial Results on February 10, 2025
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, February 10th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal first quarter ended December 31, 2024. The financial results will be issued in a press release before the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, f.
Neutral
Business Wire
2 months ago
Mitek to Participate in the 27th Annual Needham Growth Conference on January 14, 2025
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will participate in the 27th Annual Needham Growth Conference on January 14th in New York. Ed West, CEO, and Dave Lyle, CFO, will host one-on-one meetings with investors that day. To schedule a meeting with the Company, please contact your representative at Needham or MKR Investor Relations. Mitek (NASDAQ: MITK) is a globa.
Positive
Seeking Alpha
2 months ago
Mitek: Guidance Not Bad When Considering SaaS Mix Growth
Mitek's strong quarter featured impressive cost control and solid revenue growth, particularly in Check Fraud Defender and ID products. Check Fraud Defender's annualized contract value grew nearly 60% year-over-year, with expectations to double in fiscal 2025, a basis for sustained CFD revenue growth. Operating expenses have decreased considerably, and Mitek is focused on high-return growth opportunities, including M&A to enhance their technology stack and product offerings.
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