In the latest trading session, AudioEye (AEYE) closed at $8.89, marking a -1.55% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 1.16%. At the same time, the Dow added 1.21%, and the tech-heavy Nasdaq gained 1.18%.
Prior to today's trading, shares of the company had lost 16.31% lagged the Computer and Technology sector's loss of 1.07% and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of AudioEye in its upcoming release. On that day, AudioEye is projected to report earnings of $0.21 per share, which would represent year-over-year growth of 16.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.48 million, up 7.82% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.7 per share and a revenue of $40.3 million, indicating changes of +27.27% and 0%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AudioEye. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. AudioEye presently features a Zacks Rank of #3 (Hold).
Digging into valuation, AudioEye currently has a Forward P/E ratio of 10.15. This signifies a discount in comparison to the average Forward P/E of 22.98 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Audioeye, Inc. (AEYE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
