AudioCodes (NASDAQ:AUDC) Upgraded by StockNews.com to “Strong-Buy”

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

Several other equities research analysts also recently commented on AUDC. Barclays increased their price objective on AudioCodes from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Needham & Company LLC increased their price target on AudioCodes from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th.

AudioCodes Trading Up 1.4 %

NASDAQ AUDC opened at $10.97 on Tuesday. The company has a market cap of $332.61 million, a PE ratio of 39.18, a PEG ratio of 0.66 and a beta of 0.80. AudioCodes has a 12 month low of $7.14 and a 12 month high of $14.45. The stock has a 50 day moving average of $12.42 and a 200-day moving average of $11.63.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $63.56 million during the quarter, compared to the consensus estimate of $64.18 million. AudioCodes had a return on equity of 7.35% and a net margin of 3.59%. As a group, sell-side analysts predict that AudioCodes will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On AudioCodes

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in AudioCodes by 15.3% in the 1st quarter. BNP Paribas Financial Markets now owns 94,563 shares of the communications equipment provider’s stock valued at $1,233,000 after acquiring an additional 12,541 shares during the period. Assenagon Asset Management S.A. bought a new stake in AudioCodes in the 1st quarter valued at $1,660,000. Quadrature Capital Ltd bought a new position in AudioCodes during the 4th quarter worth $166,000. Eagle Global Advisors LLC bought a new position in AudioCodes during the 4th quarter worth $338,000. Finally, Trexquant Investment LP increased its position in AudioCodes by 21.0% during the 4th quarter. Trexquant Investment LP now owns 73,827 shares of the communications equipment provider’s stock worth $891,000 after buying an additional 12,835 shares during the period. 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.