B. Riley Has Optimistic Outlook of AudioEye FY2024 Earnings

AudioEye, Inc. (NASDAQ:AEYE) – Investment analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for AudioEye in a research report issued on Friday, October 18th. B. Riley analyst Z. Cummins now anticipates that the company will post earnings per share of $0.20 for the year, up from their prior forecast of $0.19. The consensus estimate for AudioEye’s current full-year earnings is $0.14 per share. B. Riley also issued estimates for AudioEye’s Q4 2024 earnings at $0.08 EPS.

AEYE has been the subject of a number of other research reports. HC Wainwright lifted their price objective on AudioEye from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Craig Hallum lifted their price target on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AudioEye has a consensus rating of “Buy” and a consensus target price of $25.38.

AudioEye Trading Up 6.0 %

Shares of AEYE opened at $25.72 on Monday. AudioEye has a fifty-two week low of $3.75 and a fifty-two week high of $29.30. The company has a market capitalization of $299.36 million, a PE ratio of -65.95, a price-to-earnings-growth ratio of 6.18 and a beta of 1.00. The stock has a fifty day moving average of $22.70 and a two-hundred day moving average of $20.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.16 and a current ratio of 1.16.

AudioEye (NASDAQ:AEYE) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.45 million. AudioEye had a negative net margin of 10.70% and a positive return on equity of 12.34%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in AudioEye by 2.3% during the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after acquiring an additional 6,929 shares during the period. Renaissance Technologies LLC grew its holdings in shares of AudioEye by 202.5% during the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC purchased a new stake in shares of AudioEye during the 2nd quarter worth about $664,000. Acadian Asset Management LLC increased its position in AudioEye by 130.6% during the 2nd quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $473,000 after purchasing an additional 15,256 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in AudioEye in the second quarter valued at approximately $348,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.