AudioEye (AEYE) closed at $7.06 in the latest trading session, marking a +1.8% move from the prior day. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq lost 0.44%.
The stock of company has fallen by 12.61% in the past month, lagging the Computer and Technology sector's gain of 4.85% and the S&P 500's gain of 2.36%.
The investment community will be paying close attention to the earnings performance of AudioEye in its upcoming release. On that day, AudioEye is projected to report earnings of $0.27 per share, which would represent year-over-year growth of 42.11%. Simultaneously, our latest consensus estimate expects the revenue to be $10.89 million, showing a 6.45% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.98 per share and revenue of $43.71 million, indicating changes of +36.11% and +8.43%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AudioEye. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, AudioEye possesses a Zacks Rank of #2 (Buy).
Investors should also note AudioEye's current valuation metrics, including its Forward P/E ratio of 7.07. This represents a discount compared to its industry average Forward P/E of 20.96.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Audioeye, Inc. (AEYE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).