AudioEye (NASDAQ:AEYE) Updates 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 opened at $25.01 on Thursday. AudioEye has a 1-year low of $3.97 and a 1-year high of $34.85. The stock has a market cap of $304.56 million, a P/E ratio of -92.61, a P/E/G ratio of 6.80 and a beta of 1.03. The stock’s 50 day simple moving average is $24.04 and its 200 day simple moving average is $22.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HC Wainwright lifted their price target on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Craig Hallum upped their price target on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, 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. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.13.

Insiders Place Their Bets

In related news, CFO Kelly Georgevich sold 10,000 shares of the 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 of the company’s stock, valued at approximately $2,580,449. This trade represents a 10.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Moradi sold 68,298 shares of AudioEye stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the completion of the transaction, the chief executive officer now directly owns 2,830,035 shares in the company, valued at $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,859 shares of company stock valued at $2,684,480 in the last quarter. 40.70% of the stock is currently owned by company insiders.

AudioEye Company Profile

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.