Mitek Systems Inc. (NASDAQ:MITK) Relative Strength Index (RSI) is 70.07, with weekly volatility at 2.89% and ATR at 0.57. The MITK stock’s 52-week price range has touched low of $8.82 and a $19.88 high. Intraday shares traded counted 0.67 million, which was -25.76% lower than its 30-day average trading volume of 531.19K. Its shares traded higher over the last trading session, gaining 2.23% on 06/09/21. The shares fell to a low of $17.93 before closing at $18.33. MITK’s previous close was $17.93 while the outstanding shares total 43.14M. The firm has a beta of 0.27, a 12-month trailing P/E ratio of 83.70, and a growth ratio of 5.58.
Investors have identified the Software – Application company Mitek Systems Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $780.67 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Mitek Systems Inc. (MITK) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. In terms of their assets, the company currently has 207.19 million total, with 24.57 million as their total liabilities.
MITK were able to record 15.4 million as free cash flow during the 07/29/2021 quarter of the year, this saw their quarterly net cash flow reduce by 33.95 million. In cash movements, the company had a total of 16.06 million as operating cash flow.
Potential earnings growth for Mitek Systems Inc. (MITK)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/29/2021 quarter of the year, Mitek Systems Inc. recorded a total of 28.77 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 19.4% coming in sequential stages and their sales for the 07/29/2021 quarter increasing by 9.72%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 3.79 million trying to sell their products during the last quarter, with the result yielding a gross income of 24.98 million. This allows shareholders to hold on to 43.14M with the recently reported earning now reading 0.02 cents per share. This is a figure that compared to analystâ€™s prediction for their 07/29/2021 (0.11 cents a share).
Having a look at the companyâ€™s valuation, the company is expected to record 0.61 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on MITK sounds very interesting.
Is the stock of MITK attractive?
In related news, General Manager, Diamond Michael E sold 43,373 shares of the companyâ€™s stock in a transaction that recorded on Jan 19. The sale was performed at an average price of 16.84, for a total value of 730,315. As the sale deal closes, the Director, THOMPSON JANE J. now sold 43,408 shares of the companyâ€™s stock, valued at 705,419. Also, Chief Financial Officer, DAVISON JEFFREY C sold 30,000 shares of the companyâ€™s stock in a deal that was recorded on Dec 16. The shares were price at an average price of 16.09 per share, with a total market value of 482,700. Following this completion of acquisition, the GC, Secretary & Admin Officer, Gray Jason now holds 15,403 shares of the companyâ€™s stock, valued at 237,869. In the last 6 months, insiders have changed their ownership in shares of company stock by 3.30%.
5 out of 5 analysts covering the stock have rated it a Buy, while 0 have maintained a Hold recommendation on Mitek Systems Inc.. 0 analysts has assigned a Sell rating on the MITK stock. The 12-month mean consensus price target for the companyâ€™s shares has been set at $21.50.