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

By Austin Angelo

B.Riley FBR analyst Zach Cummins reiterated a Buy rating on AudioEye Inc (NASDAQ: AEYE) today and set a price target of $12.50. The company’s shares opened today at $7.60.

Cummins commented:

“AudioEye (AEYE) will report select preliminary financial results on the market closes and will host a conference call at 4:30PM ET (Dial-in: Similar to the prior quarter, we anticipate AEYE will report preliminary revenue and new client cash contract bookings for 3Q18. We also expect AEYE will update its prior FY18 revenue and cash contract bookings guidance. Starting with 3Q, reflecting the new customer wins in the direct and indirect channels, we anticipate preliminary revenue and cash contract bookings will meet or potentially exceed our estimates, which also represent the consensus given that we are the only covering firm.”

According to TipRanks.com, Cummins is ranked 0 out of 5 stars with an average return of -16.1% and a 11.1% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Cornerstone Ondemand, and American Software.

Currently, the analyst consensus on AudioEye Inc is a Moderate Buy with an average price target of $12.50.

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The company has a one-year high of $10.24 and a one-year low of $0.10. Currently, AudioEye Inc has an average volume of 24.23K.

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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.