Audience Receives Hold Rating from Deutsche Bank (ADNC)
Audience (NASDAQ:ADNC)‘s stock had its “hold” rating reiterated by Deutsche Bank in a research note issued on Friday. They currently have a $9.00 price objective on the stock, down from their previous price objective of $15.00. Deutsche Bank’s price objective points to a potential downside of 5.56% from the stock’s previous close.
The analysts wrote, “Light print and significant guide-down. Audience reported Q2 revenues of $37.5m, below our estimate of $39.0m and consensus of $38.5m. Pro-forma EPS was ($0.10), above our estimate of ($0.11) and consensus of ($0.12). The company expects Q3 revenue to be in the range of $25 to $28m, well below our estimate of $44m and consensus of $41m. Non-GAAP EPS is forecast to be ($0.37) to ($0.43), well below our estimate of ($0.03) and consensus of $0.05. Until we see customer diversity, we think it will continue to be a struggle for the company. As a result we maintain our Hold rating and lower our price target from $9 to $7.”
ADNC has been the subject of a number of other recent research reports. Analysts at Chardan Capital downgraded shares of Audience from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $9.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Audience in a research note on Monday, July 21st. They now have a $14.00 price target on the stock, down previously from $17.00. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $11.20.
Audience (NASDAQ:ADNC) traded down 17.21% during mid-day trading on Friday, hitting $7.89. 416,455 shares of the company’s stock traded hands. Audience has a one year low of $8.86 and a one year high of $13.59. The stock’s 50-day moving average is $11.35 and its 200-day moving average is $11.7. The company’s market cap is $176.5 million.
Audience (NASDAQ:ADNC) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $37.50 million for the quarter, compared to the consensus estimate of $38.60 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. Analysts expect that Audience will post $-0.38 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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