AudioCodes (NASDAQ:AUDC) Now Covered by StockNews.com

Equities research analysts at StockNews.com started coverage on shares of AudioCodes (NASDAQ:AUDC – Get Rating) in a note issued to investors on Thursday. The brokerage set a “strong-buy” rating on the communications equipment provider’s stock.

Several other equities analysts have also issued reports on AUDC. Needham & Company LLC cut their price objective on shares of AudioCodes from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, February 8th. Barclays cut their price target on shares of AudioCodes from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AudioCodes presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.

AudioCodes Stock Down 2.6 %

Shares of AUDC stock opened at $14.38 on Thursday. The firm has a market cap of $454.98 million, a price-to-earnings ratio of 16.53, a PEG ratio of 2.10 and a beta of 0.61. The company’s 50 day moving average is $17.51 and its 200 day moving average is $19.03. AudioCodes has a 52-week low of $13.86 and a 52-week high of $27.86.

Hedge Funds Weigh In On AudioCodes

Several institutional investors and hedge funds have recently bought and sold shares of the company. Godsey & Gibb Inc. acquired a new stake in shares of AudioCodes during the fourth quarter worth $36,000. BlackRock Inc. acquired a new stake in shares of AudioCodes during the first quarter worth $42,000. Lazard Asset Management LLC acquired a new stake in shares of AudioCodes during the first quarter worth $45,000. Deutsche Bank AG acquired a new stake in shares of AudioCodes during the fourth quarter worth $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of AudioCodes by 23.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,970 shares of the communications equipment provider’s stock worth $143,000 after buying an additional 1,528 shares during the period. 44.42% of the stock is owned by hedge funds and other institutional investors.

About AudioCodes

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AudioCodes Ltd. is engaged in the provision of communications software, products and productivity solutions for the digital workplace. The firm involves in the development, manufacture, and market of products for transferring voice and data over the internet. Its products include products for Microsoft 365, session border controllers, multi-service business routers, meeting rooms, internet protocol phones, digital and analog media gateways, management products and solutions, and voice applications.