AudioEye price target raised to $10 from $8 at B. Riley

B. Riley raised the firm’s price target on AudioEye to $10 from $8 and keeps a Buy rating on the shares. The company reported solid Q4 results with adjusted EBITDA was well above expectations on in-line revenue while it inflected to positive free cash flow generation, the analyst tells investors in a research note. The firm cite strengthening fiscal 2024 metrics, the potential positive catalyst from favorable digital accessibility regulation in the coming quarters, and the international growth opportunity presented by the European Accessibility Act for the Buy rating.