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

AudioCodes (NASDAQ:AUDC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of AudioCodes from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, February 5th. Needham & Company LLC increased their price objective on shares of AudioCodes from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Wednesday, February 5th.

AudioCodes Stock Performance

Shares of AudioCodes stock opened at $9.46 on Friday. The company has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $9.80. AudioCodes has a 52-week low of $7.70 and a 52-week high of $12.72. The stock has a market capitalization of $280.77 million, a PE ratio of 18.92 and a beta of 1.09.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a return on equity of 10.47% and a net margin of 6.32%. As a group, equities research analysts forecast that AudioCodes will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On AudioCodes

Several institutional investors and hedge funds have recently bought and sold shares of AUDC. Bank of New York Mellon Corp lifted its position in shares of AudioCodes by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock valued at $509,000 after buying an additional 1,419 shares in the last quarter. Two Sigma Investments LP boosted its holdings in AudioCodes by 2.3% in the 4th quarter. Two Sigma Investments LP now owns 75,653 shares of the communications equipment provider’s stock worth $737,000 after buying an additional 1,674 shares during the period. Blue Trust Inc. increased its stake in AudioCodes by 151.8% in the 4th quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after buying an additional 2,185 shares in the last quarter. DGS Capital Management LLC raised its stake in AudioCodes by 72.8% during the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 9,133 shares during the period. Finally, R Squared Ltd purchased a new position in shares of AudioCodes in the fourth quarter worth $97,000. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

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.