Benzinga - by Avi Kapoor, Benzinga Staff Writer.
AudioEye, Inc. (NASDAQ: AEYE) reported a profit for its fourth quarter on Wednesday.
AudioEye posted adjusted earnings of 11 cents per share, versus market estimates for a loss of 11 cents per share. The company’s quarterly sales came in at $7.870 million versus expectations of $7.912 million, according to data from Benzinga Pro.
"I want to thank our employees for all their hard work in dramatically improving our efficiency, including revenue per employee, gross margins, and non-GAAP operating margin. Our efficiency metrics are now in the top tier of SaaS companies. In the fourth quarter of 2023, we delivered record adjusted EBITDA of $1.3 million, a 17% margin, adjusted earnings per share of $0.11, and an improved GAAP loss per share of $(0.04)," said AudioEye CEO David Moradi. "We are entering 2024 with strong business momentum. In addition to continued operating margin improvement, we expect revenue growth to accelerate throughout the year. We are confident in our expectations and have introduced guidance for 2024."
AudioEye said it sees first-quarter adjusted earnings of 6 cents to 8 cents per share on revenue of $8 million to $8.1 million. The company expects FY24 adjusted earnings of 29 cents to 38 cents per sjare on revenue of $34 million to $34.4 million.
AudioEye shares gained 2.8% to close at $6.93 on Wednesday.
These analysts made changes to their price targets on AudioEye after the company reported quarterly results.
- HC Wainwright & Co. raised the price target on AudioEye from $8 to $10. HC Wainwright & Co. analyst Scott Buck maintained a Buy rating.
- B. Riley Securities boosted the price target on AudioEye from $8 to $10. B. Riley Securities analyst Zach Cummins maintained a Buy rating.
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Latest Ratings for AEYE
| Jan 2022 | HC Wainwright & Co. | Maintains | Buy | |
| Nov 2021 | HC Wainwright & Co. | Maintains | Buy | |
| Aug 2021 | Maxim Group | Downgrades | Buy | Hold |
View the Latest Analyst Ratings
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