AudioEye, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Scott Buck from H.C. Wainwright reiterated a Buy rating on the stock and has a $22.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Scott Buck has given his Buy rating due to a combination of factors including AudioEye’s strong revenue growth and potential for significant gross margin expansion. The company’s recent quarterly results were in line with expectations, and the demand for their products is robust across both the marketplace and enterprise sectors in Europe and the United States. The European Accessibility Act, which became effective in June, is expected to further drive demand in Europe, benefiting the company for several years.
Additionally, AudioEye’s strategic decision to move away from lower-margin customers is anticipated to enhance gross margins significantly in the future. This, coupled with projected double-digit revenue growth and improved free cash flow by 2026, positions the company well for reinvestment and potential M&A activities. With shares trading at a discount compared to high-growth, high-margin tech peers, Scott Buck sees an attractive risk-reward scenario, prompting his Buy recommendation with a maintained price target of $22.
According to TipRanks, Buck is an analyst with an average return of -9.7% and a 29.49% success rate. Buck covers the Technology sector, focusing on stocks such as Mogo Finance Technology, Inuvo, and Intellicheck Mobilisia.