What is B. Riley’s Forecast for AudioEye FY2024 Earnings?

AudioEye, Inc. (NASDAQ:AEYE) – Research analysts at B. Riley boosted their FY2024 earnings per share estimates for shares of AudioEye in a research note issued to investors on Friday, October 18th. B. Riley analyst Z. Cummins now anticipates that the company will earn $0.20 per share for the year, up from their previous estimate 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.

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

A number of other research firms also recently weighed in on AEYE. Craig Hallum raised their price target on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. HC Wainwright raised their price objective on shares of AudioEye from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AudioEye presently has a consensus rating of “Buy” and an average target price of $25.38.

AudioEye Price Performance

AEYE opened at $27.85 on Monday. The stock has a fifty day moving average price of $22.70 and a 200 day moving average price of $20.47. 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 has a 1 year low of $3.75 and a 1 year high of $29.30. The stock has a market cap of $324.15 million, a price-to-earnings ratio of -71.41, a PEG ratio of 6.18 and a beta of 1.00.

Institutional Trading of AudioEye

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of AudioEye in the 1st quarter valued at approximately $116,000. ClariVest Asset Management LLC acquired a new stake in shares of AudioEye in the second quarter worth $664,000. Renaissance Technologies LLC boosted 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 buying an additional 40,500 shares during the period. Vanguard Group Inc. boosted its holdings in shares of AudioEye by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after buying an additional 6,929 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its stake in AudioEye by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock valued at $130,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 51.11% 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.