AudioEye Inc (AEYE) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Zach Cummins maintained a Buy rating on AudioEye Inc (AEYE) today and set a price target of $13. The company’s shares opened today at $12.17, close to its 52-week high of $12.40.

Cummins said:

“the market close, AudioEye (AEYE) reported preliminary 4Q18 revenues and cash contract bookings that exceeded our projections. Revenues were near the high-end of management’s implied 4Q guidance and slightly above our estimate and consensus. While a consensus estimate is not published, we note that cash contract bookings exceeded our estimate by a wider margin behind the strength in both the direct and indirect channels. We continue to believe that AEYE’s solutions are benefiting from both regulatory and demographic considerations that are accelerating the adoption of web accessibility initiatives. Reflecting the robust demand in both the direct and indirect channels, management reiterated its prior FY19 revenue and cash contract bookings guidance.”

According to TipRanks.com, Cummins is a 1-star analyst with an average return of -7.1% and a 28.6% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, American Software, and ChannelAdvisor.

Currently, the analyst consensus on AudioEye Inc is a Moderate Buy with an average price target of $11.75, which is a -3.5% downside from current levels. In a report released today, National Securities Corp also maintained a Buy rating on the stock with a $12.50 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $12.40 and a one-year low of $0.18. Currently, AudioEye Inc has an average volume of 46.97K.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AEYE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AudioEye, Inc. provides digital accessibility technology solutions. It develops patented Internet content publication and distribution software, enabling the conversion of any media into an accessible format and allowing for real-time distribution to end-users on any Internet connected device.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts