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Audioeye, Inc. (AEYE) Gains As Market Dips: What You Should Know

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Audioeye, Inc. (AEYE - Free Report) closed the most recent trading day at $9.41, moving +1.62% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.42%. Elsewhere, the Dow lost 2.84%, while the tech-heavy Nasdaq lost 2.59%.

Coming into today, shares of the company had gained 7.3% in the past month. In that same time, the Computer and Technology sector gained 7.27%, while the S&P 500 gained 4.5%.

Wall Street will be looking for positivity from AEYE as it approaches its next earnings report date. On that day, AEYE is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.33 million, up 77.34% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.68 per share and revenue of $18.25 million. These totals would mark changes of +29.9% and +69.01%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for AEYE. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AEYE currently has a Zacks Rank of #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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