AudioCodes (NASDAQ:AUDC) PT Lowered to $10.00

AudioCodes (NASDAQ:AUDC) had its price objective lowered by research analysts at Barclays from $12.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the communications equipment provider’s stock. Barclays‘s target price would suggest a potential upside of 0.91% from the company’s previous close.

Other equities analysts have also issued reports about the stock. StockNews.com raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Needham & Company LLC raised their price objective on AudioCodes from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th.

AudioCodes Stock Performance

AUDC opened at $9.91 on Wednesday. The firm has a market capitalization of $300.51 million, a PE ratio of 35.39, a PEG ratio of 0.65 and a beta of 0.84. AudioCodes has a 52-week low of $7.14 and a 52-week high of $14.45. The business’s 50-day simple moving average is $12.09 and its 200 day simple moving average is $11.69.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. The firm had revenue of $63.56 million for the quarter, compared to the consensus estimate of $64.18 million. On average, research analysts forecast that AudioCodes will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On AudioCodes

Hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its position in AudioCodes by 62.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 20,423 shares of the communications equipment provider’s stock valued at $206,000 after acquiring an additional 7,856 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in AudioCodes in the third quarter valued at approximately $116,000. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of AudioCodes during the third quarter worth $203,000. Heartland Advisors Inc. increased its holdings in shares of AudioCodes by 236.0% during the third quarter. Heartland Advisors Inc. now owns 780,500 shares of the communications equipment provider’s stock worth $7,891,000 after buying an additional 548,200 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of AudioCodes in the 3rd quarter valued at $188,000. Institutional investors own 68.05% of the company’s stock.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.