Audiocodes Limited Downgraded to Market Perform at Oppenheimer (AUDC)
Audiocodes Limited (NASDAQ:AUDC) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $7.00 target price on the stock. Oppenheimer’s price objective would indicate a potential upside of 0.57% from the company’s current price. The analysts noted that the move was a valuation call.
Shares of Audiocodes Limited (NASDAQ:AUDC) opened at 6.96 on Tuesday. Audiocodes Limited has a 1-year low of $2.18 and a 1-year high of $7.42. The stock has a 50-day moving average of $6.61 and a 200-day moving average of $4.85. The company’s market cap is $264.9 million.
Audiocodes Limited (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the 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.
AUDC has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Audiocodes Limited from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 1st. They now have a $7.70 price target on the stock.
AudioCodes Ltd. (NASDAQ:AUDC) designs, develops and sells products for voice and data over packet networks.
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