AudioCodes (NASDAQ:AUDC) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

A number of other equities analysts have also issued reports on AUDC. Barclays decreased their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of AudioCodes in a research report on Tuesday, January 21st.

AudioCodes Trading Up 6.6 %

AudioCodes stock opened at $11.36 on Wednesday. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The stock has a market cap of $343.27 million, a P/E ratio of 28.40 and a beta of 0.80. The stock has a 50 day moving average of $9.86 and a 200-day moving average of $9.80.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. As a group, equities analysts predict that AudioCodes will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Senvest Management LLC grew its position in AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after buying an additional 37,080 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of AudioCodes during the 3rd quarter worth approximately $1,618,000. JPMorgan Chase & Co. increased its position in shares of AudioCodes by 95.1% during the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock valued at $1,012,000 after purchasing an additional 50,704 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of 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 valued at $893,000 after purchasing an additional 9,150 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in AudioCodes during the third quarter worth $595,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

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.