AudioCodes (NASDAQ:AUDC) Upgraded to Strong-Buy at StockNews.com

AudioCodes (NASDAQ:AUDC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Other analysts have also recently issued reports about the company. Barclays decreased their price objective on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of AudioCodes in a report on Tuesday, January 21st.

AudioCodes Price Performance

Shares of AUDC opened at $10.66 on Wednesday. The stock has a market capitalization of $322.15 million, a price-to-earnings ratio of 26.65 and a beta of 0.80. AudioCodes has a 1 year low of $7.70 and a 1 year high of $14.45. The business’s 50 day simple moving average is $9.86 and its 200-day simple moving average is $9.80.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. AudioCodes had a return on equity of 8.85% and a net margin of 4.99%. On average, sell-side analysts expect that AudioCodes will post 0.51 earnings per share for the current year.

Institutional Trading of AudioCodes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Senvest Management LLC raised its holdings in AudioCodes by 1.5% during the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after buying an additional 37,080 shares during the period. Assenagon Asset Management S.A. purchased a new stake in AudioCodes in the third quarter worth $1,618,000. JPMorgan Chase & Co. increased its stake in AudioCodes by 95.1% in the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after purchasing an additional 50,704 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in AudioCodes by 11.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after purchasing an additional 9,150 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in AudioCodes in the third quarter worth $595,000. Hedge funds and other 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.