In the latest trading session, AudioEye (AEYE) closed at $5.81, marking a +1.75% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow experienced a rise of 0.11%, and the technology-dominated Nasdaq saw a decrease of 0.73%.
Coming into today, shares of the company had lost 16.28% in the past month. In that same time, the Computer and Technology sector lost 8.37%, while the S&P 500 lost 7.34%.
The investment community will be closely monitoring the performance of AudioEye in its forthcoming earnings report. On that day, AudioEye is projected to report earnings of $0.17 per share, which would represent year-over-year growth of 13.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.54 million, up 8.32% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.89 per share and a revenue of $44.08 million, indicating changes of +23.61% and +9.35%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for AudioEye. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.65% increase. AudioEye currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that AudioEye has a Forward P/E ratio of 6.44 right now. This denotes a discount relative to the industry average Forward P/E of 18.36.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 153, placing it within the bottom 38% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
