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

StockNews.com upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

Several other brokerages have also weighed in on AUDC. Barclays cut their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of AudioCodes in a research note on Tuesday, January 21st.

AudioCodes Trading Up 6.6 %

NASDAQ:AUDC opened at $11.36 on Wednesday. The stock has a market capitalization of $343.27 million, a P/E ratio of 28.40 and a beta of 0.80. AudioCodes has a 1 year low of $7.70 and a 1 year high of $14.45. The firm has a 50 day moving average of $9.86 and a 200-day moving average of $9.80.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. As a group, analysts forecast that AudioCodes will post 0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of AudioCodes during the 3rd quarter worth about $1,618,000. Public Employees Retirement System of Ohio bought a new position in AudioCodes during the third quarter worth about $595,000. JPMorgan Chase & Co. increased its position in AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after buying an additional 50,704 shares during the last quarter. Senvest Management LLC raised its stake in AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after buying an additional 37,080 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of AudioCodes in the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds 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.