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

AudioCodes (NASDAQ:AUDCGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Other analysts have also recently issued reports about the stock. Barclays decreased their price target on shares of AudioCodes from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Tuesday, April 26th. Zacks Investment Research cut shares of AudioCodes from a “hold” rating to a “sell” rating in a research report on Monday. Needham & Company LLC reduced their target price on shares of AudioCodes from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 2nd. Sidoti upgraded shares of AudioCodes from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, January 31st. Finally, Bank of America lowered shares of AudioCodes from a “buy” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $25.00 in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.20.

Shares of AudioCodes stock traded up $0.04 during mid-day trading on Thursday, reaching $20.12. 131,510 shares of the stock traded hands, compared to its average volume of 120,186. The business has a 50-day moving average of $25.06 and a 200 day moving average of $29.99. The stock has a market capitalization of $639.37 million, a PE ratio of 20.96, a PEG ratio of 2.25 and a beta of 0.64. AudioCodes has a fifty-two week low of $19.62 and a fifty-two week high of $37.35.

AudioCodes (NASDAQ:AUDCGet Rating) last announced its quarterly earnings data on Sunday, May 1st. The communications equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. AudioCodes had a return on equity of 18.19% and a net margin of 12.62%. During the same period in the previous year, the company earned $0.28 EPS. As a group, analysts forecast that AudioCodes will post 1.05 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd bought a new stake in shares of AudioCodes in the 4th quarter valued at $41,000. BlackRock Inc. purchased a new position in AudioCodes during the 1st quarter worth $42,000. Cim LLC boosted its holdings in shares of AudioCodes by 9.0% in the 4th quarter. Cim LLC now owns 7,521 shares of the communications equipment provider’s stock worth $218,000 after buying an additional 622 shares during the last quarter. Meritage Portfolio Management purchased a new stake in AudioCodes during the fourth quarter valued at about $227,000. Finally, LPL Financial LLC lifted its holdings in AudioCodes by 6.9% during the fourth quarter. LPL Financial LLC now owns 7,441 shares of the communications equipment provider’s stock valued at $259,000 after purchasing an additional 479 shares during the last quarter. Institutional investors own 51.35% of the company’s stock.

AudioCodes Company Profile (Get Rating)

AudioCodes Ltd., together with its subsidiaries, provides advanced communications software, products, and productivity solutions for the digital workplace. It offers solutions, products, and applications for enterprise unified communications environments, work-from-home agents and contact centers, voice and telephony AI-based applications, and service provider business services.

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Analyst Recommendations for AudioCodes (NASDAQ:AUDC)

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