AudioEye (NASDAQ:AEYE) Updates Q3 Earnings Guidance

AudioEye (NASDAQ:AEYE) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.15-0.16 for the period, compared to the consensus estimate of $0.14. The company issued revenue guidance of upper end of $8.90-8.95 million, compared to the consensus revenue estimate of $8.91 million. AudioEye also updated its FY 2024 guidance to 0.510-0.530 EPS.

AudioEye Trading Down 3.4 %

NASDAQ AEYE opened at $22.85 on Tuesday. The firm has a market cap of $265.95 million, a PE ratio of -58.59, a price-to-earnings-growth ratio of 6.50 and a beta of 1.00. AudioEye has a 1-year low of $3.75 and a 1-year high of $29.30. The stock has a 50-day moving average of $22.46 and a 200-day moving average of $19.16. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.39.

AudioEye (NASDAQ:AEYE) last released 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. AudioEye had a positive return on equity of 12.34% and a negative net margin of 10.70%. The firm had revenue of $8.47 million during the quarter, compared to analyst estimates of $8.45 million. As a group, sell-side analysts forecast that AudioEye will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AEYE shares. Roth Capital upgraded shares of AudioEye to a strong-buy rating in a research report on Friday, June 21st. HC Wainwright reaffirmed a buy rating and set a $23.00 price target on shares of AudioEye in a research report on Friday, July 26th. Craig Hallum increased their price objective 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 began coverage on AudioEye in a research note on Friday, June 21st. They set a buy rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AudioEye presently has an average rating of Buy and an average target price of $24.13.

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.