AudioCodes (AUDC) Upgraded by Zacks Investment Research to “Buy”

AudioCodes (NASDAQ:AUDC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $8.50 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.14% from the company’s current price.

According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “

A number of other equities research analysts have also recently weighed in on AUDC. William Blair restated a “buy” rating on shares of AudioCodes in a report on Wednesday, October 25th. Needham & Company LLC upped their price target on AudioCodes from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Thursday, October 26th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $8.17.

AudioCodes (AUDC) traded down $0.01 on Tuesday, hitting $7.58. The company had a trading volume of 66,129 shares, compared to its average volume of 84,811. The firm has a market cap of $207.55, a PE ratio of 63.17 and a beta of 0.23. The company has a current ratio of 1.71, a quick ratio of 1.34 and a debt-to-equity ratio of 0.07. AudioCodes has a 1-year low of $5.83 and a 1-year high of $8.43.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $41.40 million for the quarter, compared to analysts’ expectations of $40.30 million. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. equities analysts expect that AudioCodes will post 0.3 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in shares of AudioCodes in the 3rd quarter worth approximately $713,000. Acadian Asset Management LLC lifted its stake in AudioCodes by 34.9% in the 4th quarter. Acadian Asset Management LLC now owns 859,182 shares of the communications equipment provider’s stock valued at $6,325,000 after buying an additional 222,430 shares in the last quarter. First Trust Advisors LP lifted its stake in AudioCodes by 112.6% in the 3rd quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock valued at $752,000 after buying an additional 55,820 shares in the last quarter. Trexquant Investment LP purchased a new stake in AudioCodes in the 3rd quarter valued at approximately $123,000. Finally, Royal Bank of Canada lifted its stake in AudioCodes by 3.6% in the 2nd quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock valued at $207,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 25.28% of the company’s stock.

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AudioCodes Company Profile

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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