AudioEye (AEYE) closed the latest trading day at $14.78, indicating a -1.66% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.86%, and the Nasdaq, a tech-heavy index, lost 0.38%.

Shares of the company witnessed a loss of 11.17% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.29% and the S&P 500's loss of 2.2%.

Investors will be eagerly watching for the performance of AudioEye in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.18, showcasing a 63.64% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $9.73 million, up 23.67% from the year-ago period.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AudioEye. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. AudioEye is currently sporting a Zacks Rank of #3 (Hold).

Looking at valuation, AudioEye is presently trading at a Forward P/E ratio of 21.94. For comparison, its industry has an average Forward P/E of 28.07, which means AudioEye is trading at a discount to the group.

Investors should also note that AEYE has a PEG ratio of 0.88 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.18.

The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% of all industries, numbering over 250.

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.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Audioeye, Inc. (AEYE) : Free Stock Analysis Report

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