AudioCodes (NASDAQ:AUDC) Upgraded to “Strong-Buy” at Wall Street Zen

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

AudioCodes Stock Up 4.0%

AUDC opened at $9.37 on Friday. AudioCodes has a 52-week low of $6.95 and a 52-week high of $11.50. The company has a market cap of $238.42 million, a P/E ratio of 37.47 and a beta of 0.97. The firm’s 50-day moving average price is $9.12 and its 200-day moving average price is $8.63.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $62.14 million during the quarter, compared to analysts’ expectations of $61.50 million. AudioCodes had a net margin of 2.79% and a return on equity of 6.33%.

Institutional Investors Weigh In On AudioCodes

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in AudioCodes during the fourth quarter valued at $202,000. Barclays PLC increased its holdings in AudioCodes by 3,621.4% in the fourth quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock valued at $64,000 after buying an additional 7,098 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of AudioCodes in the fourth quarter worth about $175,000. SIH Partners LLLP acquired a new position in shares of AudioCodes in the third quarter worth about $170,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of AudioCodes during the 2nd quarter worth about $43,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

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.