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Mitek Systems (MITK) Gains As Market Dips: What You Should Know
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Mitek Systems (MITK - Free Report) closed at $10.29 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.74%. Elsewhere, the Dow lost 0.9%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the mobile imaging software company had lost 12.12% over the past month. This has lagged the Computer and Technology sector's gain of 6.65% and the S&P 500's gain of 3.74% in that time.
Investors will be hoping for strength from Mitek Systems as it approaches its next earnings release. The company is expected to report EPS of $0.22, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.97 million, up 17.12% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Mitek Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.94% higher. Mitek Systems is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Mitek Systems is currently trading at a Forward P/E ratio of 10.17. For comparison, its industry has an average Forward P/E of 10.17, which means Mitek Systems is trading at a no noticeable deviation to the group.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 8, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Mitek Systems (MITK) Gains As Market Dips: What You Should Know
Mitek Systems (MITK - Free Report) closed at $10.29 in the latest trading session, marking a +0.68% move from the prior day. This move outpaced the S&P 500's daily loss of 0.74%. Elsewhere, the Dow lost 0.9%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the mobile imaging software company had lost 12.12% over the past month. This has lagged the Computer and Technology sector's gain of 6.65% and the S&P 500's gain of 3.74% in that time.
Investors will be hoping for strength from Mitek Systems as it approaches its next earnings release. The company is expected to report EPS of $0.22, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.97 million, up 17.12% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Mitek Systems. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 12.94% higher. Mitek Systems is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Mitek Systems is currently trading at a Forward P/E ratio of 10.17. For comparison, its industry has an average Forward P/E of 10.17, which means Mitek Systems is trading at a no noticeable deviation to the group.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 8, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.