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Kimberly Stevenson, a director at Mitek Systems Inc (NASDAQ:MITK), has recently purchased 10,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission dated February 20, 2025. The shares were acquired at an average price of $9.18, totaling approximately $91,800. Following this transaction, Stevenson now directly owns 65,852 shares of Mitek Systems. The company, currently valued at $414 million, boasts impressive gross profit margins of 86% and maintains a strong liquidity position with a current ratio of 4.6. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.
The transaction was executed in multiple trades, with prices ranging from $9.15 to $9.20 per share. This purchase highlights Stevenson’s ongoing investment in Mitek Systems, a company known for its expertise in computer peripheral equipment. InvestingPro data reveals that management has been actively buying back shares, with analysts expecting net income growth this year. Discover 10+ additional exclusive insights and detailed analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Mitek Systems reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.15, compared to the forecasted $0.09. The company achieved total revenue of $37.3 million, slightly above the anticipated $35.46 million, marking a modest year-over-year increase. Mitek’s Software (ETR:SOWGn) as a Service (SaaS) revenue saw a significant 29% growth, reflecting the company’s focus on expanding its digital offerings. H.C. Wainwright maintained a Buy rating on Mitek Systems with a price target of $13.00, following the company’s first-quarter fiscal year 2025 earnings report. The firm noted Mitek’s ongoing business transitions and the expected subdued revenue growth throughout fiscal year 2025. Mitek confirmed its revenue guidance for fiscal year 2025, ranging from $170.0 million to $180.0 million, and adjusted its EBITDA margin guidance to a range of 25% to 28%. The company’s Check Fraud Defender product continues to gain traction, contributing to the company’s expanding footprint in fraud prevention solutions. Mitek’s management expressed confidence in the company’s strategic direction, emphasizing growth in its identity verification and fraud prevention segments.
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