AudioCodes Ltd. (AUDC) Given Consensus Rating of “Buy” by Analysts
Shares of AudioCodes Ltd. (NASDAQ:AUDC) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.63.
Separately, Zacks Investment Research cut AudioCodes from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th.
Shares of AudioCodes (NASDAQ AUDC) traded up 2.057% during trading on Monday, reaching $6.399. The company’s stock had a trading volume of 25,496 shares. The company has a market capitalization of $204.68 million, a P/E ratio of 12.474 and a beta of 0.46. AudioCodes has a 12 month low of $3.87 and a 12 month high of $7.26. The company’s 50-day moving average is $6.51 and its 200-day moving average is $6.56.
AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $37.40 million during the quarter, compared to analysts’ expectations of $36.78 million. AudioCodes had a return on equity of 7.48% and a net margin of 11.98%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. On average, analysts forecast that AudioCodes will post $0.33 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in AUDC. Renaissance Technologies LLC boosted its position in AudioCodes by 62.8% in the fourth quarter. Renaissance Technologies LLC now owns 371,272 shares of the communications equipment provider’s stock worth $2,358,000 after buying an additional 143,262 shares in the last quarter. Norges Bank purchased a new position in shares of AudioCodes during the fourth quarter worth approximately $2,940,000. State of Tennessee Treasury Department boosted its position in shares of AudioCodes by 34.0% in the first quarter. State of Tennessee Treasury Department now owns 116,102 shares of the communications equipment provider’s stock worth $814,000 after buying an additional 29,482 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of AudioCodes by 48.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 28,306 shares of the communications equipment provider’s stock worth $198,000 after buying an additional 9,201 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of AudioCodes during the fourth quarter worth approximately $130,000. Institutional investors and hedge funds own 28.73% of the company’s stock.
AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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