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 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Craig Hallum upped their price target on shares of AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. HC Wainwright upped their target price on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Roth Mkm reiterated a “buy” rating and issued a $35.00 price target (up previously 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $30.13.

AudioEye Price Performance

Shares of NASDAQ:AEYE opened at $25.58 on Wednesday. AudioEye has a one year low of $3.97 and a one year high of $34.85. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $311.56 million, a price-to-earnings ratio of -94.74, a PEG ratio of 6.80 and a beta of 1.03. The firm has a 50 day simple moving average of $23.95 and a 200 day simple moving average of $22.27.

Insider Activity at AudioEye

In related news, CFO Kelly Georgevich sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the chief financial officer now owns 88,981 shares in the company, valued at $2,580,449. This trade represents a 10.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Moradi sold 68,298 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,830,035 shares in the company, valued at $83,429,431.80. The trade was 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 90 days. 40.70% of the stock is owned by corporate 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.