Mitek downgraded at Jefferies on near-term uncertainty [Seeking Alpha]
Mitek Systems, Inc. (MITK)
Last mitek systems, inc. earnings: 4/30 04:05 pm
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US:NASDAQ Investor Relations:
investors.miteksystems.com
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Source: Seeking Alpha
MITK shares were trading lower Wednesday pre-market at $8.84. "We downgrade MITK to Hold from Buy as emergent growth challenges are unlikely to dissipate anytime soon, and not having a permanent CEO adds to questions around strategy and execution," said analysts led by Surinder Thind and Colton Feldmann in a research note. "Post a weak F3Q, revenues in the Identity business are now expected to remain under pressure as a number of headwinds collectively impact results for the next few quarters. We have lowered our F2025 adj EPS estimate by 30% to $0.82," the note said. Mitek Systems reported a Q3 earnings and revenue miss on Aug. 8. The fiscal 2024 consensus EPS estimate stands at $0.80 (-15.07% Y/Y) and the consensus revenue estimate is $170.16M (-1.01% Y/Y). Jefferies reduced its price target on the stock to $9.50 from $17.00. The average sell-side analyst rating on MITK is Strong Buy, with a $12.30 price target. Seeking Alpha authors grade the stock as Hold. Meanwhile,
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MITK
News
- Concerned Stockholder Group Votes Against the Re-Election of Mitek Systems’ Board of DirectorsBusiness Wire
- Mitek Systems, Inc. (NASDAQ: MITK) was downgraded by analysts at Jefferies Financial Group Inc. from a "buy" rating to a "hold" rating. They now have a $9.50 price target on the stock, down previously from $17.00.MarketBeat
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MITK
Earnings
- 8/8/24 - Beat
MITK
Sec Filings
- 9/13/24 - Form 8-K
- 9/12/24 - Form 4
- 9/12/24 - Form 4
- MITK's page on the SEC website