AudioCodes (NASDAQ:AUDC) Upgraded at Wall Street Zen

AudioCodes (NASDAQ:AUDC) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of AudioCodes from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.25.

AudioCodes Price Performance

NASDAQ:AUDC opened at $8.36 on Friday. The company has a market cap of $239.74 million, a price-to-earnings ratio of 18.17 and a beta of 1.04. AudioCodes has a 1 year low of $8.01 and a 1 year high of $12.72. The stock’s 50 day simple moving average is $8.91 and its two-hundred day simple moving average is $9.40.

Institutional Trading of AudioCodes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUDC. Goldman Sachs Group Inc. purchased a new position in shares of AudioCodes during the first quarter valued at approximately $412,000. Jump Financial LLC purchased a new stake in shares of AudioCodes in the second quarter worth approximately $127,000. Dimensional Fund Advisors LP lifted its stake in shares of AudioCodes by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 252,768 shares of the communications equipment provider’s stock worth $2,407,000 after acquiring an additional 12,428 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in AudioCodes by 9.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 620,844 shares of the communications equipment provider’s stock valued at $5,936,000 after acquiring an additional 53,266 shares during the period. Finally, Bank of America Corp DE boosted its holdings in AudioCodes by 186.0% during the 3rd quarter. Bank of America Corp DE now owns 57,727 shares of the communications equipment provider’s stock valued at $550,000 after acquiring an additional 37,542 shares during the period. 68.05% of the stock is owned by hedge funds and other institutional investors.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.