Audioeye Shares Rise 212% YTD: Should Investors Buy the Stock?

Audioeye AEYE shares have surged 212.1% year to date (YTD), outperforming the Zacks Computer & Technology sector’s appreciation of 33.8% and the Zacks Internet-Software industry’s return of 43%.AEYE shares have also outperformed peers like Fortinet FTNT, Synchronoss Technologies SNCR and Aspen Technology AZPN, which have appreciated 67.3%, 65.5% and 13%, respectively, in the same time frame.AEYE’s exceptional performance can be attributed to its innovative digital accessibility solutions, strategic partnerships and accretive acquisitions.Strong Portfolio & Partner Base Aid AEYE ProspectsAudioeye has been benefiting from its innovative product portfolio and solid partnerships. Recent products like Accessibility Protection Status and Accessibility Testing Software Kit offer customers a transparent risk assessment and enable developers to fix accessibility issues early in the software development cycle.A rich partner base further bolsters AEYE’s prospects. Its partnership with Finalsite, a market leader in K-12 education, is expanding its footprint in the education sector. An expanded partnership with CivicPlus allows AEYE to tap into over 10,000 government clients, and positions it to drive adoption within the local government market via tailored go-to-market strategies.AEYE’s acquisition of ADA Site Compliance strengthens its portfolio by adding a strong customer base and recurring revenues. It has enhanced the company’s ability to provide comprehensive digital accessibility solutions and integrate new clients seamlessly.Achieving HIPAA compliance and SOC 2 Type 2 certification has further solidified AEYE’s credibility. The company is poised to meet growing demand from healthcare and other regulated sectors, where data security and compliance are paramount.AEYE’s Earnings Estimates Trend SteadyAudioeye expects fourth-quarter 2024 revenues to be $9.7-$9.8 million, representing 24% year-over-year growth. Adjusted EBITDA is expected to be $2.2-$2.3 million, indicating a 23% margin.For the full year 2024, AEYE expects revenues between $35.2 million and $35.3 million. Adjusted EBITDA is expected to be $6.62 - $6.72 million, with adjusted earnings of 54 cents per share to 55 cents per share.The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $9.73 million, indicating year-over-year growth of 23.67%. The consensus mark for earnings is currently pegged at 18 cents per share, unchanged over the past 30 days, and indicating year-over-year growth of 63.64%.The Zacks Consensus Estimate for full-year 2024 revenues is pegged at $35.21 million, indicating 12.44% year-over-year growth. The consensus mark for 2024 earnings is currently pegged at 52 cents per share, unchanged over the past 30 days.AEYE shares have beaten the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 83.57%.Audioeye, Inc. Price and Consensus Audioeye, Inc. price-consensus-chart | Audioeye, Inc. Quote Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Is AEYE Stock a Buy?AEYE benefits from a strong product portfolio, strengthening partnerships and accretive acquisitions, positioning it for sustained growth in the digital accessibility market.AEYE currently has a Zacks Rank #2 (Buy) and Growth Score of A, a favorable combination that offers a strong investment opportunity, per the Zacks proprietary methodology. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synchronoss Technologies, Inc. (SNCR): Free Stock Analysis Report Fortinet, Inc. (FTNT): Free Stock Analysis Report Aspen Technology, Inc. (AZPN): Free Stock Analysis Report Audioeye, Inc. (AEYE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks