In the latest trading session, AudioEye (AEYE) closed at $22.75, marking a -1.04% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.03% for the day. Meanwhile, the Dow experienced a drop of 0.61%, and the technology-dominated Nasdaq saw an increase of 0.56%.

The the stock of company has fallen by 1.58% in the past month, lagging the Computer and Technology sector's gain of 1.65% and the S&P 500's gain of 1.39%.

Market participants will be closely following the financial results of AudioEye in its upcoming release. The company plans to announce its earnings on November 7, 2024. The company's earnings per share (EPS) are projected to be $0.14, reflecting a 600% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $8.91 million, indicating a 13.6% upward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.47 per share and revenue of $35 million, indicating changes of +327.27% and +11.76%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for AudioEye. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.45% upward. AudioEye is holding a Zacks Rank of #3 (Hold) right now.

From a valuation perspective, AudioEye is currently exchanging hands at a Forward P/E ratio of 48.92. This signifies a premium in comparison to the average Forward P/E of 32.9 for its industry.

Also, we should mention that AEYE has a PEG ratio of 1.96. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 2.07 at the close of the market yesterday.