AudioCodes (NASDAQ:AUDC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

AudioCodes Ltd. (NASDAQ:AUDC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.75 and traded as high as $9.81. AudioCodes shares last traded at $9.78, with a volume of 80,749 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

AudioCodes Stock Performance

The company has a market cap of $248.90 million, a price-to-earnings ratio of 39.12 and a beta of 0.96. The stock’s fifty day moving average is $9.53 and its two-hundred day moving average is $8.75.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.50 million. AudioCodes had a net margin of 2.79% and a return on equity of 6.33%.

Institutional Investors Weigh In On AudioCodes

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in AudioCodes in the 2nd quarter valued at $43,000. Barclays PLC boosted its holdings in AudioCodes by 3,621.4% during the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 7,098 shares during the last quarter. Jump Financial LLC purchased a new position in AudioCodes during the 2nd quarter worth $127,000. NewEdge Advisors LLC bought a new stake in shares of AudioCodes in the 4th quarter worth $150,000. Finally, SIH Partners LLLP bought a new stake in shares of AudioCodes in the 3rd quarter worth $170,000. Institutional investors own 68.05% of the company’s stock.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.