Last Updated: 13 Sep 2024
Executive Summary
AudioEye Inc. (AEYE) is a provider of digital accessibility solutions for websites, mobile applications, and other digital content. The company's offerings include automated testing, remediation, and monitoring services, as well as consulting and training. AEYE has a strong track record of revenue growth and is expected to continue to benefit from the increasing demand for digital accessibility solutions. However, the company is currently unprofitable and faces competition from a number of larger players in the industry.
Company Overview
AEYE was founded in 2005 and is headquartered in Tucson, Arizona. The company's mission is to make the digital world accessible to everyone, regardless of their disability. AEYE's solutions are used by a wide range of organizations, including government agencies, educational institutions, and Fortune 500 companies.
Fundamental Analysis
AEYE's financial performance has been mixed in recent years. The company has reported revenue growth in each of the past four years, but it has also posted losses in each of those years. In 2023, AEYE reported revenue of $32.3 million and a net loss of $15.6 million.
AEYE's financial performance is expected to improve in the coming years. The company is benefiting from the increasing demand for digital accessibility solutions, and it is also expanding its product offerings and geographic reach. AEYE is expected to report revenue of $40.0 million and a net income of $2.0 million in 2024.
Technical Analysis
AEYE's stock price has been volatile in recent months. The stock hit a 52-week high of $29.30 in January 2023, but it has since fallen to $21.04. The stock is currently trading below its 50-day and 200-day moving averages.
The technical analysis suggests that AEYE's stock is in a downtrend. The stock is likely to continue to decline in the short term.
Short Term Outlook
AEYE's stock is likely to continue to decline in the short term. The stock is currently trading below its 50-day and 200-day moving averages, and the technical analysis suggests that the stock is in a downtrend. Investors should be cautious about buying AEYE's stock in the short term.
Long Term Outlook
AEYE's long-term outlook is more positive. The company is benefiting from the increasing demand for digital accessibility solutions, and it is also expanding its product offerings and geographic reach. AEYE is expected to report revenue of $40.0 million and a net income of $2.0 million in 2024.
Investors should be patient with AEYE's stock. The company is still in the early stages of growth, and it is likely to face challenges along the way. However, AEYE has a strong track record of revenue growth, and it is expected to continue to benefit from the increasing demand for digital accessibility solutions.
Analyst Recommendations
The consensus analyst recommendation for AEYE is "Buy." Four analysts have a "Buy" rating on the stock, and none have a "Sell" rating. The average analyst price target for AEYE is $25.75.
