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Mitek Systems (MITK) Dips More Than Broader Markets: What You Should Know
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Mitek Systems (MITK - Free Report) closed the most recent trading day at $9.73, moving -1.92% from the previous trading session. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Heading into today, shares of the mobile imaging software company had lost 0.3% over the past month, outpacing the Computer and Technology sector's loss of 8.27% and the S&P 500's loss of 5.25% in that time.
Mitek Systems will be looking to display strength as it nears its next earnings release. On that day, Mitek Systems is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 18.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.25 million, up 17.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Mitek Systems. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Mitek Systems is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Mitek Systems's current valuation metrics, including its Forward P/E ratio of 9.87. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.87.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
To follow MITK in the coming trading sessions, be sure to utilize Zacks.com.
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Mitek Systems (MITK) Dips More Than Broader Markets: What You Should Know
Mitek Systems (MITK - Free Report) closed the most recent trading day at $9.73, moving -1.92% from the previous trading session. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Heading into today, shares of the mobile imaging software company had lost 0.3% over the past month, outpacing the Computer and Technology sector's loss of 8.27% and the S&P 500's loss of 5.25% in that time.
Mitek Systems will be looking to display strength as it nears its next earnings release. On that day, Mitek Systems is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 18.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.25 million, up 17.79% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Mitek Systems. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Mitek Systems is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Mitek Systems's current valuation metrics, including its Forward P/E ratio of 9.87. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.87.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
To follow MITK in the coming trading sessions, be sure to utilize Zacks.com.