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

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

A number of other research analysts have also recently issued reports on the stock. Barclays lifted their price objective 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 lifted their price target on AudioCodes from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Wednesday, February 5th.

AudioCodes Price Performance

Shares of NASDAQ:AUDC opened at $9.46 on Friday. The company has a market capitalization of $280.77 million, a P/E ratio of 18.92 and a beta of 1.09. AudioCodes has a 1 year low of $7.70 and a 1 year high of $12.72. The business’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $9.80.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 6.32% and a return on equity of 10.47%. On average, sell-side analysts anticipate that AudioCodes will post 0.7 EPS for the current fiscal year.

Institutional Trading of AudioCodes

A number of hedge funds have recently added to or reduced their stakes in AUDC. Two Sigma Investments LP lifted its stake in shares of AudioCodes by 2.3% in the 4th quarter. Two Sigma Investments LP now owns 75,653 shares of the communications equipment provider’s stock valued at $737,000 after acquiring an additional 1,674 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in AudioCodes by 19.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 190,338 shares of the communications equipment provider’s stock valued at $1,854,000 after purchasing an additional 30,611 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of AudioCodes during the fourth quarter valued at about $406,000. Dimensional Fund Advisors LP increased its stake in shares of AudioCodes by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 230,526 shares of the communications equipment provider’s stock valued at $2,245,000 after buying an additional 12,090 shares during the period. Finally, Senvest Management LLC raised its holdings in AudioCodes by 0.8% in the 4th quarter. Senvest Management LLC now owns 2,601,756 shares of the communications equipment provider’s stock valued at $25,341,000 after buying an additional 21,308 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

About AudioCodes

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.