Audiocodes Limited Rating Lowered to Neutral at Zacks (AUDC)
Audiocodes Limited (NASDAQ:AUDC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday, American Banking & Market News reports. They currently have a $7.70 price objective on the stock. Zacks‘ price target points to a potential upside of 5.62% from the stock’s previous close.
Audiocodes Limited (NASDAQ:AUDC) traded up 4.14% during mid-day trading on Tuesday, hitting $7.29. 224,113 shares of the company’s stock traded hands. Audiocodes Limited has a 1-year low of $2.18 and a 1-year high of $7.34. The stock has a 50-day moving average of $6.38 and a 200-day moving average of $4.73. The company’s market cap is $277.5 million.
Audiocodes Limited (NASDAQ:AUDC) last released its earnings data on Tuesday, July 30th. The company reported $0.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.02 by $0.01. The company had revenue of $33.70 million for the quarter, compared to the consensus estimate of $32.91 million. During the same quarter last year, the company posted ($0.04) earnings per share. Audiocodes Limited’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Audiocodes Limited will post $0.13 EPS for the current fiscal year.
Separately, analysts at Oppenheimer raised their price target on shares of Audiocodes Limited (NASDAQ:AUDC) from $5.00 to $7.00 in a research note to investors on Thursday, August 29th. They now have an “outperform” rating on the stock.
AudioCodes Ltd. (NASDAQ:AUDC) designs, develops and sells products for voice and data over packet networks.
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