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

AudioCodes (NASDAQ:AUDC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

AUDC has been the topic of a number of other research reports. Barclays boosted their target price on shares of AudioCodes from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 7th. Needham & Company LLC lifted their price target on shares of AudioCodes from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th.

AudioCodes Trading Up 1.4 %

Shares of AUDC stock opened at $10.97 on Tuesday. AudioCodes has a 1 year low of $7.14 and a 1 year high of $14.45. The firm’s fifty day simple moving average is $12.42 and its 200 day simple moving average is $11.63. The firm has a market capitalization of $332.61 million, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 0.66 and a beta of 0.80.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. The business had revenue of $63.56 million for the quarter, compared to analyst estimates of $64.18 million. Equities research analysts anticipate that AudioCodes will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On AudioCodes

A number of institutional investors have recently bought and sold shares of AUDC. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AudioCodes in the 3rd quarter valued at $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of AudioCodes in the 3rd quarter valued at $134,000. Quadrature Capital Ltd acquired a new stake in shares of AudioCodes in the 4th quarter valued at $166,000. Cornerstone Investment Partners LLC acquired a new stake in shares of AudioCodes in the 4th quarter valued at $173,000. Finally, New York State Common Retirement Fund boosted its stake in shares of AudioCodes by 163.8% in the 4th quarter. New York State Common Retirement Fund now owns 15,828 shares of the communications equipment provider’s stock valued at $191,000 after purchasing an additional 9,827 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

About AudioCodes

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.