AudioCodes (NASDAQ:AUDC) Price Target Lowered to $24.00 at Jefferies Financial Group

AudioCodes (NASDAQ:AUDCGet Rating) had its price objective cut by equities research analysts at Jefferies Financial Group from $25.00 to $24.00 in a report released on Monday, The Fly reports. Jefferies Financial Group’s target price indicates a potential upside of 13.53% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America downgraded AudioCodes from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $25.00 in a research report on Monday, May 2nd. StockNews.com downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded AudioCodes from a “hold” rating to a “sell” rating in a research report on Monday, May 9th. Sidoti upgraded AudioCodes from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, January 31st. Finally, Needham & Company LLC reduced their price objective on AudioCodes from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, February 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.40.

NASDAQ AUDC opened at $21.14 on Monday. The company has a market cap of $671.79 million, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.64. The stock’s 50 day simple moving average is $24.25 and its 200-day simple moving average is $29.23. AudioCodes has a 1-year low of $19.62 and a 1-year high of $37.35.

AudioCodes (NASDAQ:AUDCGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The communications equipment provider reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. AudioCodes had a return on equity of 18.19% and a net margin of 12.62%. The firm had revenue of $66.36 million for the quarter, compared to the consensus estimate of $66.46 million. During the same quarter last year, the business posted $0.28 earnings per share. Research analysts forecast that AudioCodes will post 1.05 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of AUDC. Global Alpha Capital Management Ltd. increased its stake in AudioCodes by 30.0% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,602,398 shares of the communications equipment provider’s stock worth $55,957,000 after acquiring an additional 369,380 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of AudioCodes in the first quarter valued at $6,208,000. Lapides Asset Management LLC acquired a new stake in shares of AudioCodes in the first quarter valued at $3,901,000. Meitav Dash Investments Ltd. grew its stake in shares of AudioCodes by 14.4% in the fourth quarter. Meitav Dash Investments Ltd. now owns 885,650 shares of the communications equipment provider’s stock valued at $30,807,000 after buying an additional 111,608 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AudioCodes in the fourth quarter valued at $3,640,000. 51.35% of the stock is owned by institutional investors.

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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