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Mitek Systems (MITK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Mitek Systems (MITK - Free Report) closed at $10.04, marking a -1.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Prior to today's trading, shares of the mobile imaging software company had lost 7.04% over the past month. This has lagged the Computer and Technology sector's loss of 6.38% and the S&P 500's loss of 4.33% in that time.
Investors will be hoping for strength from Mitek Systems as it approaches its next earnings release. In that report, analysts expect Mitek Systems to post earnings of $0.22 per share. This would mark no growth 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.
Any recent changes to analyst estimates for Mitek Systems should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.94% higher within the past month. Mitek Systems currently has a Zacks Rank of #3 (Hold).
Investors should also note Mitek Systems's current valuation metrics, including its Forward P/E ratio of 10.11. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.11.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Mitek Systems (MITK - Free Report) closed at $10.04, marking a -1.18% move from the previous day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Prior to today's trading, shares of the mobile imaging software company had lost 7.04% over the past month. This has lagged the Computer and Technology sector's loss of 6.38% and the S&P 500's loss of 4.33% in that time.
Investors will be hoping for strength from Mitek Systems as it approaches its next earnings release. In that report, analysts expect Mitek Systems to post earnings of $0.22 per share. This would mark no growth 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.
Any recent changes to analyst estimates for Mitek Systems should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.94% higher within the past month. Mitek Systems currently has a Zacks Rank of #3 (Hold).
Investors should also note Mitek Systems's current valuation metrics, including its Forward P/E ratio of 10.11. This represents a no noticeable deviation compared to its industry's average Forward P/E of 10.11.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.