Audience Sets New 12-Month Low After Analyst Downgrade (ADNC)
Audience (NASDAQ:ADNC) hit a new 52-week low during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $14.00 to $13.00, American Banking News.com reports. JPMorgan Chase & Co. currently has an overweight rating on the stock. Audience traded as low as $7.80 and last traded at $7.95, with a volume of 851,941 shares trading hands. The stock had previously closed at $9.53.
A number of other analysts have also recently weighed in on ADNC. Analysts at Credit Suisse cut their price target on shares of Audience from $11.00 to $9.00 in a research note on Friday. Separately, analysts at Topeka Capital Markets cut their price target on shares of Audience from $15.00 to $10.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Audience in a research note on Friday. They now have a $9.00 price target on the stock, down previously from $15.00. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.50.
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 $180.1 million.
Audience (NASDAQ:ADNC) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.10) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. On average, analysts predict that Audience will post $-0.38 earnings per share 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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