In the latest close session, AudioEye (AEYE) was down 2.26% at $13.86. The stock's performance was behind the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.18%, and the technology-centric Nasdaq increased by 0.31%.
Coming into today, shares of the company had gained 10.35% in the past month. In that same time, the Computer and Technology sector gained 7.63%, while the S&P 500 gained 3.15%.
Market participants will be closely following the financial results of AudioEye in its upcoming release. The company is predicted to post an EPS of $0.18, indicating a 12.5% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.25 million, up 14.78% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.7 per share and a revenue of $40.47 million, representing changes of +27.27% and +14.96%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AudioEye. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AudioEye is currently a Zacks Rank #3 (Hold).
Digging into valuation, AudioEye currently has a Forward P/E ratio of 20.26. This indicates a discount in contrast to its industry's Forward P/E of 31.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Audioeye, Inc. (AEYE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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