Audience Shares Down 2.8% on Analyst Downgrade (ADNC)
Audience (NASDAQ:ADNC)’s share price fell 2.8% during mid-day trading on Monday after Chardan Capital lowered their price target on the stock from $15.00 to $13.00, American Banking and Market News reports. Chardan Capital currently has a buy rating on the stock. Audience traded as low as $11.14 and last traded at $11.17, with a volume of 85,186 shares changing hands. The stock had previously closed at $11.49.
A number of other analysts have also recently weighed in on ADNC. Analysts at JPMorgan Chase & Co. raised their price target on shares of Audience from $14.50 to $17.00 in a research note on Friday, May 2nd. Analysts at Credit Suisse raised their price target on shares of Audience from $10.00 to $11.00 in a research note on Friday, May 2nd. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.60.
The stock’s 50-day moving average is $12.21 and its 200-day moving average is $11.8. The company’s market cap is $247.9 million.
Audience (NASDAQ:ADNC) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.15) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.18) by $0.03. The company had revenue of $36.08 million for the quarter, compared to the consensus estimate of $34.75 million. During the same quarter last year, the company posted $0.27 earnings per share. Audience’s revenue was down 23.6% compared to the same quarter last year. Analysts expect that Audience will post $-0.22 EPS for the current fiscal year.
Audience, Inc, is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.
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