AudioCodes (NASDAQ:AUDC) Cut to “Buy” at StockNews.com

AudioCodes (NASDAQ:AUDCGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other equities analysts have also issued reports about the stock. Needham & Company LLC dropped their price objective on shares of AudioCodes from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, February 2nd. Bank of America downgraded shares of AudioCodes from a “buy” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $25.00 in a research report on Monday, May 2nd. Zacks Investment Research downgraded AudioCodes from a “hold” rating to a “sell” rating in a research report on Monday, May 9th. Barclays cut their target price on AudioCodes from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Tuesday, April 26th. Finally, Sidoti raised AudioCodes from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, January 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, AudioCodes has a consensus rating of “Hold” and a consensus target price of $32.20.

NASDAQ AUDC traded down $0.39 on Friday, hitting $21.14. 101,048 shares of the stock were exchanged, compared to its average volume of 121,619. The company has a market capitalization of $671.79 million, a PE ratio of 22.02, a P/E/G ratio of 2.29 and a beta of 0.64. The business’s fifty day moving average is $24.25 and its 200 day moving average is $29.33. AudioCodes has a 52 week low of $19.62 and a 52 week high of $37.35.

AudioCodes (NASDAQ:AUDCGet Rating) last issued its earnings results on Monday, May 2nd. The communications equipment provider reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. AudioCodes had a return on equity of 18.19% and a net margin of 12.62%. The company had revenue of $66.36 million during the quarter, compared to the consensus estimate of $66.46 million. During the same period in the previous year, the company posted $0.28 EPS. On average, equities analysts expect that AudioCodes will post 1.05 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. grew its holdings in shares of AudioCodes by 14.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 25,246 shares of the communications equipment provider’s stock valued at $822,000 after purchasing an additional 3,125 shares during the last quarter. NFJ Investment Group LLC increased its holdings in shares of AudioCodes by 23.5% during the third quarter. NFJ Investment Group LLC now owns 133,157 shares of the communications equipment provider’s stock worth $4,333,000 after buying an additional 25,327 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AudioCodes by 186.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 121,346 shares of the communications equipment provider’s stock valued at $3,949,000 after acquiring an additional 78,967 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of AudioCodes by 111.8% during the 3rd quarter. Royal Bank of Canada now owns 14,283 shares of the communications equipment provider’s stock valued at $464,000 after acquiring an additional 7,538 shares in the last quarter. Finally, Crawford Investment Counsel Inc. increased its holdings in AudioCodes by 4.8% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 164,303 shares of the communications equipment provider’s stock worth $5,346,000 after purchasing an additional 7,525 shares in the last quarter. Institutional investors and hedge funds own 51.35% of the company’s stock.

About AudioCodes (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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