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 EPS guidance of 0.540-0.550 for the period, compared to the consensus EPS 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 Price Performance

Shares of AEYE opened at $25.58 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The company’s fifty day simple moving average is $23.95 and its 200 day simple moving average is $22.27. AudioEye has a 1-year low of $3.97 and a 1-year high of $34.85. 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AEYE shares. Craig Hallum upped their target price on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, July 26th. Roth Mkm restated a “buy” rating and issued a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, HC Wainwright lifted 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. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $30.13.

Insiders Place Their Bets

In other AudioEye news, 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 sale, the chief executive officer now owns 2,830,035 shares in the company, valued at $83,429,431.80. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the chief financial officer now owns 88,981 shares in the company, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,859 shares of company stock worth $2,684,480 over the last three months. Insiders own 40.70% of the company’s stock.

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.