Mitek Systems, Inc. (MITK) is an application software solutions provider related to mobile imaging that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MITK’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Mitek Systems could be a solid choice for investors.

Current Quarter Estimates for MITK

In the past 30 days, 1 estimate has gone higher for Mitek Systems while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 6 cents a share 30 days ago, to a loss of 5 cents today, a move of 16.7%.

Current Year Estimates for MITK

Meanwhile, Mitek Systems’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 27 cents per share 30 days ago to a loss of 7 cents per share today, an increase of 74.1%.

Bottom Line

The stock has also started to move higher lately, adding 58.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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MITEK SYSTEMS INC (MITK): Free Stock Analysis Report


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