Mitek Systems Inc reports results for the quarter ended in December - Earnings Summary

• Mitek Systems Inc MITK reported quarterly adjusted earnings of 14 cents​​ per share for the quarter ended in December, lower than the same quarter last year, when the company reported EPS of 31 cents. The mean expectation of six analysts for the quarter was for earnings of 18 cents per share. Wall Street expected results to range from 13 cents to 24 cents per share.

• Revenue fell 19.2% to $36.92 million from a year ago; analysts expected $39.02 million.

• Mitek Systems Inc's reported EPS for the quarter was a loss of 13 cents​.

• The company reported a quarterly loss of $5.79 million.

• Mitek Systems Inc shares had risen by 5.2% this quarter and gained 13.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 14.3% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the software peer group is also "buy"

Wall Street's median 12-month price target for Mitek Systems Inc is $19.00

This summary was machine generated from LSEG data April 16 at 06:21 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)