In Friday’s after-market session, several communication services stocks showed significant movements, both in gains and losses.
- Audacy (NYSE: AUD) shares surged 18.2% to $0.11. The company’s trading volume was 171.5K shares, accounting for 24.2% of its average volume in the last 100 days. The market cap of Audacy stands at $15.2 million. The recent Q4 earnings report was released two days ago.
- Golden Matrix Group (NASDAQ: GMGI) shares increased by 15.68% to $2.95. The market value of their outstanding shares is $106.4 million. As per the news, the Q1 earnings report came out yesterday.
- National CineMedia (NASDAQ: NCMI) shares increased by 10.19% to $0.12. National CineMedia’s trading volume hit 843.4K shares by close, accounting for 106.2% of its average volume over the last 100 days. The company’s market cap stands at $19.9 million.
- Grom Social Enterprises (NASDAQ: GROM) shares increased by 9.15% to $0.63. The company’s market cap stands at $3.6 million.
- Cuentas (NASDAQ: CUEN) stock increased by 8.94% to $0.56. The market value of their outstanding shares is $14.0 million.
- FaZe Holdings (NASDAQ: FAZE) stock increased by 7.0% to $0.45. The market value of their outstanding shares is $32.5 million.
- Wejo Gr (NASDAQ: WEJO) shares decreased by 23.7% to $0.57 during Friday’s after-market session. Today’s trading volume for this security ended up closing at 139.2K shares, 56.6 percent of its average volume over the last 100 days. The market value of their outstanding shares is $62.1 million.
- Mobiquity Technologies (NASDAQ: MOBQ) shares fell 6.71% to $0.19. The market value of their outstanding shares is $2.6 million.
- AirNet Technology (NASDAQ: ANTE) shares declined by 5.27% to $1.08. The company’s market cap stands at $9.6 million.
- Liberty TripAdvisor Hldgs (NASDAQ: LTRPA) shares fell 5.01% to $0.76. The market value of their outstanding shares is $57.7 million.
- Grindr (NYSE:GRND) shares fell 4.7% to $5.68. Grindr’s trading volume at the close reached 315.5K shares, which is 137.2% of its average over the last 100 days. The company’s market cap stands at $985.6 million.
- Super League Gaming (NASDAQ: SLGG) stock fell 4.66% to $0.53. The market value of their outstanding shares is $19.9 million.
The communication services industry showed mixed results in Friday’s after-market session. While some stocks saw significant gains, others suffered losses.
Audacy Inc. (NYSE: AUD) Stock Performance
Audacy Inc. (NYSE: AUD) experienced a downward trend in its stock price in today’s trading. The stock opened at $0.16, lower than the previous day’s closing price of $0.17. Throughout the day, AUD traded between $0.14 to $0.16, with a volume of 9,074,003 shares traded, significantly higher than its average volume over the last three months, which is 1,024,881. The company’s market capitalization stands at $20.2M.
Looking at the company’s growth and valuation, AUD’s earnings growth rate for last year was reported at +98.54%, indicating strong performance. However, the earnings growth rate for this year is reported at -6,433.12%, which shows a significant decrease. The earnings growth rate is expected to decline by 16.00% for the next five years. In contrast, AUD’s revenue growth rate for last year was reported at +14.94%, indicating a healthy business.
Audacy Inc. currently has no P/E ratio, suggesting that the company is not presently generating positive earnings. The company’s price-to-sales ratio is 0.29, indicating that investors are willing to pay $0.29 for each $1 of AUD’s revenue. The price-to-book ratio is 0.03, meaning that AUD’s stock trades at a discount to its book value.
In terms of competitors, Salem Media Group Inc. (NASDAQ: SALM) and Beasley Broadcast Group Inc. (NASDAQ: BBGI) experienced a decline of 1.94% and 4.65%, respectively, in today’s trading. Meanwhile, Emmis Communications Corporation (NASDAQ: EMMS) reported no change in its stock price.
Looking at AUD’s financials, the company is set to report its following financial results on May 9, 2023. Analysts expect an EPS of -$0.24 for the current quarter. AUD’s annual revenue for last year was reported at $1.2B, while its yearly profit was reported at -$3.6M, with a net profit margin of -0.29%.
Audacy Inc. operates in the consumer services sector and is part of the broadcasting industry. The company’s corporate headquarters are located in Philadelphia, Pennsylvania. Despite a decline in its stock price today, AUD’s past performance suggests strong growth potential in the long run. However, investors should consider the company’s financials and industry competition before making investment decisions.
Audacy Inc. (NYSE: AUD) Stock Price Overview
Audacy Inc is a broadcasting company specializing in audio content, including music, news, sports, and podcasts. The company operates across various platforms, including broadcast radio, digital streaming, and podcasting. Audacy’s stock performance has been the subject of much interest among investors and analysts, with many closely monitoring the company’s financial metrics, including earnings growth, revenue growth, and market capitalization.
Recently, two analysts provided 12-month price forecasts for Audacy’s stock. The median target price was $0.18, with a high estimate of $0.25 and a low estimate of $0.10. The median estimate suggests a 24.82% increase from the last price of $0.14. This forecast is a positive sign for investors, indicating that the company’s stock is expected to rise in the coming year.
However, the consensus among three polled investment analysts is to sell stock in Audacy Inc. This rating had held steady since March, when it was unchanged from a sell rating. This suggests that the company’s fundamentals may not be strong enough to warrant analysts’ buying ratings. Investors should consider this rating when considering whether to invest in Audacy’s stock.
Investors should also consider the company’s financial metrics. Audacy’s earnings growth in the last year was +98.54%, indicating strong performance. However, earnings growth this year was -6,433.12%, which could concern investors. The company’s revenue growth in the last year was +14.94%, which is a positive sign. The price-to-sales ratio is 0.29, lower than the industry average, indicating the company may be undervalued.
In terms of competitors, Audacy is compared against Salem Media Group Inc, Beasley Broadcast Group Inc, and Emmis Communications Corp. Salem Media Group had a -1.94% change in its stock price, Beasley Broadcast Group had a -4.65% chance, and Emmis Communications had a 0.00% change. These comparisons indicate that Audacy’s performance is similar to its competitors.
While the 12-month price forecast for Audacy’s stock is optimistic, the current consensus among investment analysts is to sell the stock. Investors should also consider the company’s financial metrics and compare them to their competitors before making an investment decision.