Zacks Investment Research upgraded shares of AudioCodes (NASDAQ:AUDC) from a hold rating to a buy rating in a research report sent to investors on Monday, April 30th. Zacks Investment Research currently has $8.00 price target on the communications equipment provider’s stock.
According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “
A number of other equities analysts have also recently issued reports on AUDC. William Blair reiterated a buy rating on shares of AudioCodes in a report on Tuesday, April 24th. Needham & Company LLC reiterated a buy rating and issued a $9.00 target price (up from $8.50) on shares of AudioCodes in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $8.00.
Shares of AudioCodes traded up $0.05, reaching $7.22, during trading hours on Monday, according to Marketbeat Ratings. The stock had a trading volume of 53,237 shares, compared to its average volume of 58,373. AudioCodes has a 12 month low of $7.11 and a 12 month high of $7.19. The company has a quick ratio of 1.44, a current ratio of 1.79 and a debt-to-equity ratio of 0.06. The stock has a market cap of $198.90 million, a P/E ratio of 23.29 and a beta of 0.36.
AudioCodes (NASDAQ:AUDC) last issued its earnings results on Tuesday, April 24th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. AudioCodes had a return on equity of 11.52% and a net margin of 3.19%. The company had revenue of $42.43 million for the quarter, compared to analysts’ expectations of $40.60 million. analysts expect that AudioCodes will post 0.33 EPS for the current year.
A number of large investors have recently modified their holdings of AUDC. Acadian Asset Management LLC lifted its stake in AudioCodes by 34.9% during the 4th quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock valued at $6,325,000 after acquiring an additional 222,430 shares in the last quarter. Ramsey Quantitative Systems bought a new position in AudioCodes during the 4th quarter valued at $268,000. ARK Investment Management LLC bought a new position in AudioCodes during the 4th quarter valued at $227,000. Renaissance Technologies LLC lifted its stake in AudioCodes by 33.7% during the 4th quarter. Renaissance Technologies LLC now owns 301,700 shares of the communications equipment provider’s stock valued at $2,221,000 after acquiring an additional 76,049 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in AudioCodes by 133.8% during the 4th quarter. Two Sigma Investments LP now owns 141,505 shares of the communications equipment provider’s stock valued at $1,041,000 after acquiring an additional 80,986 shares in the last quarter. Institutional investors and hedge funds own 26.99% 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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