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Mitek Systems (MITK) Stock Sinks As Market Gains: What You Should Know
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Mitek Systems (MITK - Free Report) closed the most recent trading day at $8.10, moving -0.61% from the previous trading session. This change lagged the S&P 500's 3.35% gain on the day. At the same time, the Dow added 3.19%, and the tech-heavy Nasdaq gained 3.62%.
Coming into today, shares of the mobile imaging software company had lost 7.33% in the past month. In that same time, the Computer and Technology sector lost 12.32%, while the S&P 500 lost 14.37%.
Wall Street will be looking for positivity from MITK as it approaches its next earnings report date. The company is expected to report EPS of $0.11, up 57.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.46 million, up 17.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.51 per share and revenue of $100.05 million, which would represent changes of +21.43% and +18.28%, respectively, from the prior year.
Any recent changes to analyst estimates for MITK 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MITK is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, MITK is currently trading at a Forward P/E ratio of 15.88. For comparison, its industry has an average Forward P/E of 15.88, which means MITK is trading at a no noticeable deviation to the group.
Investors should also note that MITK has a PEG ratio of 1.06 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Optical Imaging was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 1% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Mitek Systems (MITK) Stock Sinks As Market Gains: What You Should Know
Mitek Systems (MITK - Free Report) closed the most recent trading day at $8.10, moving -0.61% from the previous trading session. This change lagged the S&P 500's 3.35% gain on the day. At the same time, the Dow added 3.19%, and the tech-heavy Nasdaq gained 3.62%.
Coming into today, shares of the mobile imaging software company had lost 7.33% in the past month. In that same time, the Computer and Technology sector lost 12.32%, while the S&P 500 lost 14.37%.
Wall Street will be looking for positivity from MITK as it approaches its next earnings report date. The company is expected to report EPS of $0.11, up 57.14% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.46 million, up 17.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.51 per share and revenue of $100.05 million, which would represent changes of +21.43% and +18.28%, respectively, from the prior year.
Any recent changes to analyst estimates for MITK 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MITK is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, MITK is currently trading at a Forward P/E ratio of 15.88. For comparison, its industry has an average Forward P/E of 15.88, which means MITK is trading at a no noticeable deviation to the group.
Investors should also note that MITK has a PEG ratio of 1.06 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Optical Imaging was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Computer - Optical Imaging industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 1% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.