BidaskClub upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a research report released on Saturday morning.
AUDC has been the subject of several other reports. ValuEngine raised AudioCodes from a hold rating to a buy rating in a report on Tuesday, July 24th. Needham & Company LLC lifted their price target on AudioCodes from $9.00 to $10.00 and gave the stock a buy rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research raised AudioCodes from a hold rating to a buy rating and set a $10.00 price target for the company in a report on Thursday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $10.00.
AUDC opened at $12.35 on Friday. AudioCodes has a 12-month low of $6.51 and a 12-month high of $12.96. The company has a market capitalization of $358.77 million, a PE ratio of 39.84 and a beta of 0.36. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.05.
AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, October 23rd. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.07. AudioCodes had a return on equity of 15.90% and a net margin of 5.61%. The company had revenue of $44.52 million during the quarter.
A number of large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in AudioCodes by 19.5% during the 3rd quarter. Acadian Asset Management LLC now owns 1,197,083 shares of the communications equipment provider’s stock worth $12,045,000 after purchasing an additional 195,458 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in AudioCodes by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock worth $1,646,000 after purchasing an additional 4,567 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in AudioCodes by 21.1% during the 2nd quarter. Macquarie Group Ltd. now owns 127,064 shares of the communications equipment provider’s stock worth $989,000 after purchasing an additional 22,139 shares during the last quarter. Millennium Management LLC lifted its holdings in AudioCodes by 20.4% during the 2nd quarter. Millennium Management LLC now owns 76,055 shares of the communications equipment provider’s stock worth $591,000 after purchasing an additional 12,890 shares during the last quarter. Finally, Ramsey Quantitative Systems lifted its holdings in AudioCodes by 56.5% during the 3rd quarter. Ramsey Quantitative Systems now owns 67,004 shares of the communications equipment provider’s stock worth $674,000 after purchasing an additional 24,202 shares during the last quarter. 24.48% of the stock is owned by institutional investors and hedge funds.
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.
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