AudioCodes (NASDAQ:AUDC) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday, November 9th.
Other analysts have also recently issued reports about the company. ValuEngine cut AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research raised AudioCodes from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, July 26th. Finally, Needham & Company LLC boosted their price objective on shares of AudioCodes from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Five research analysts have rated the stock with a buy rating, AudioCodes has a consensus rating of “Buy” and a consensus target price of $10.00.
Shares of AUDC traded down $0.18 during trading hours on Friday, hitting $11.30. The company had a trading volume of 195,833 shares, compared to its average volume of 128,783. AudioCodes has a 52-week low of $6.62 and a 52-week high of $12.96. The company has a market cap of $310.64 million, a P/E ratio of 36.45 and a beta of 0.30. The company has a current ratio of 1.97, a quick ratio of 1.58 and a debt-to-equity ratio of 0.05.
AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, October 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The business had revenue of $44.52 million for the quarter. AudioCodes had a return on equity of 15.90% and a net margin of 5.61%.
A number of hedge funds and other institutional investors have recently made changes to their positions in AUDC. UBS Group AG raised its stake in AudioCodes by 154.1% during the 1st quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock valued at $148,000 after buying an additional 12,585 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in AudioCodes during the 2nd quarter valued at $7,793,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in AudioCodes during the 2nd quarter valued at $113,000. Renaissance Technologies LLC raised its stake in AudioCodes by 2.2% during the 2nd quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock valued at $1,646,000 after buying an additional 4,567 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in AudioCodes by 21.1% during the 2nd quarter. Macquarie Group Ltd. now owns 127,064 shares of the communications equipment provider’s stock valued at $989,000 after buying an additional 22,139 shares during the last quarter. Institutional investors own 30.62% of the company’s stock.
AudioCodes Company Profile
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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