AudioEye (NASDAQ:AEYE) Releases FY 2024 Earnings Guidance

AudioEye (NASDAQ:AEYE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.540-0.550 for the period, compared to the consensus 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.

AudioEye Stock Performance

AEYE stock opened at $25.36 on Friday. The firm has a market cap of $308.88 million, a price-to-earnings ratio of -93.93, a PEG ratio of 5.85 and a beta of 1.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye has a twelve month low of $3.97 and a twelve month high of $34.85. The business’s fifty day simple moving average is $24.13 and its two-hundred day simple moving average is $22.31.

Wall Street Analysts Forecast Growth

AEYE has been the topic of several analyst reports. HC Wainwright lifted their target price on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Craig Hallum raised their price target on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $35.00 price target (up previously from $25.00) on shares of AudioEye in a report on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AudioEye currently has an average rating of “Buy” and an average target price of $30.13.

Insider Activity at AudioEye

In other AudioEye news, CEO David Moradi sold 68,298 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the transaction, the chief executive officer now owns 2,830,035 shares of the company’s stock, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the chief financial officer now directly owns 88,981 shares in the company, valued at $2,580,449. This trade represents a 10.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,859 shares of company stock worth $2,684,480. 40.70% of the stock is owned by corporate insiders.

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.