AudioCodes (NASDAQ:AUDC) Raised to Strong-Buy at StockNews.com

AudioCodes (NASDAQ:AUDC) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports on AUDC. Needham & Company LLC lifted their price objective on shares of AudioCodes from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays lifted their price objective on shares of AudioCodes from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Wednesday, February 7th.

AudioCodes Stock Performance

AudioCodes stock traded down $0.28 during midday trading on Tuesday, reaching $10.82. 166,514 shares of the company’s stock were exchanged, compared to its average volume of 76,762. The stock’s 50-day simple moving average is $12.46 and its 200 day simple moving average is $11.63. The firm has a market cap of $328.06 million, a price-to-earnings ratio of 38.64, a P/E/G ratio of 0.66 and a beta of 0.80. AudioCodes has a 52 week low of $7.14 and a 52 week high of $14.45.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $63.56 million during the quarter, compared to the consensus estimate of $64.18 million. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. Research analysts forecast that AudioCodes will post 0.68 earnings per share for the current year.

Institutional Trading of AudioCodes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Heartland Advisors Inc. grew its stake in shares of AudioCodes by 236.0% during the third quarter. Heartland Advisors Inc. now owns 780,500 shares of the communications equipment provider’s stock worth $7,891,000 after buying an additional 548,200 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of AudioCodes during the third quarter worth $617,000. Senvest Management LLC grew its stake in shares of AudioCodes by 159.5% during the third quarter. Senvest Management LLC now owns 2,546,011 shares of the communications equipment provider’s stock worth $25,740,000 after buying an additional 1,565,039 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of AudioCodes by 9.8% during the third quarter. Acadian Asset Management LLC now owns 1,106,660 shares of the communications equipment provider’s stock worth $11,167,000 after buying an additional 98,938 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of AudioCodes in the third quarter worth $188,000. Institutional investors own 68.05% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.