AudioEye (NASDAQ:AEYE) Updates FY 2024 Earnings Guidance

AudioEye (NASDAQ:AEYE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.540-0.550 for the period, compared to the consensus earnings per share estimate of -0.130. The company issued revenue guidance of $35.2 million-$35.3 million, compared to the consensus revenue estimate of $34.9 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Craig Hallum raised their price objective on shares of AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, HC Wainwright raised their price objective on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AudioEye has a consensus rating of “Buy” and a consensus price target of $30.13.

AudioEye Stock Up 0.9 %

AEYE stock opened at $25.73 on Tuesday. The stock has a market capitalization of $313.34 million, a P/E ratio of -95.30, a PEG ratio of 6.80 and a beta of 1.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye has a one year low of $3.97 and a one year high of $34.85. The company has a 50 day moving average price of $23.84 and a two-hundred day moving average price of $22.22.

Insiders Place Their Bets

In other AudioEye news, CEO David Moradi sold 14,061 shares of AudioEye stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $26.14, for a total value of $367,554.54. Following the completion of the sale, the chief executive officer now directly owns 2,764,290 shares of the company’s stock, valued at approximately $72,258,540.60. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of AudioEye stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief financial officer now owns 88,981 shares in the company, valued at approximately $2,580,449. This trade represents a 10.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 92,859 shares of company stock valued at $2,684,480. Company insiders own 40.70% of the company’s stock.

About AudioEye

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.