AudioEye (AEYE) Surges 14.7%: Is This an Indication of Further Gains?
AudioEye (AEYE) shares rallied 14.7% in the last trading session to close at $5.75. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 14.1% loss over the past four weeks.
The upswing in share price was driven by the introduction of enhanced product features that simplify the process of providing accessible user experiences on websites and mobile applications for organizations. AudioEye is committed to collaborating with enterprise customers and the disability community to ensure that the solutions built meet the needs of both stakeholders. By leveraging industry-leading capabilities, the company aims to shape accessible experiences of the present and future.
This company is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of +91.3%. Revenues are expected to be $7.85 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AudioEye, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AEYE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AudioEye is a member of the Zacks Internet - Software industry. One other stock in the same industry, Model N (MODN), finished the last trading session 2.1% lower at $34.82. MODN has returned 6.3% over the past month.
Model N's consensus EPS estimate for the upcoming report has changed +11.1% over the past month to $0.24. Compared to the company's year-ago EPS, this represents a change of +4.4%. Model N currently boasts a Zacks Rank of #3 (Hold).
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Audioeye, Inc. (AEYE) : Free Stock Analysis Report
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