AudioCodes (AUDC) Upgraded at BidaskClub

BidaskClub upgraded shares of AudioCodes (NASDAQ:AUDC) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other analysts have also weighed in on AUDC. ValuEngine lowered AudioCodes from a strong-buy rating to a buy rating in a report on Thursday, November 1st. Northland Securities set a $7.00 target price on AudioCodes and gave the company a hold rating in a report on Thursday, December 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $9.00.

Shares of AudioCodes stock traded up $0.08 during trading on Wednesday, hitting $12.05. The stock had a trading volume of 209,921 shares, compared to its average volume of 306,953. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $339.75 million, a price-to-earnings ratio of 24.56 and a beta of 0.40. AudioCodes has a fifty-two week low of $6.62 and a fifty-two week high of $12.96.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Tuesday, October 23rd. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The business had revenue of $44.52 million during the quarter. AudioCodes had a return on equity of 15.90% and a net margin of 5.61%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of AudioCodes by 23.9% during the third quarter. Morgan Stanley now owns 2,312,188 shares of the communications equipment provider’s stock valued at $23,261,000 after purchasing an additional 445,547 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of AudioCodes by 19.5% during the third quarter. Acadian Asset Management LLC now owns 1,197,083 shares of the communications equipment provider’s stock valued at $12,045,000 after purchasing an additional 195,458 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of AudioCodes by 1.2% during the third quarter. Vanguard Group Inc now owns 458,899 shares of the communications equipment provider’s stock valued at $4,617,000 after purchasing an additional 5,335 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of AudioCodes by 1.2% during the third quarter. Vanguard Group Inc. now owns 458,899 shares of the communications equipment provider’s stock valued at $4,617,000 after purchasing an additional 5,335 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of AudioCodes by 103.8% during the third quarter. Renaissance Technologies LLC now owns 431,152 shares of the communications equipment provider’s stock valued at $4,337,000 after purchasing an additional 219,552 shares during the last quarter. 30.62% of the stock is owned by institutional investors and hedge funds.

AudioCodes Company Profile

AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company's products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments; MobilityPLUS, a mobile VoIP solution; VocaNOM call routing products; SmartTAP call recording products; Auto Attendant, a tool for managing inbound calls and delivery services; Fax Server, a tool for managing inbound and outbound enterprise fax transmissions; SIP Phone Support, a value-added application for SBC and gateways; signal processor chips; communications boards; and voice and data logging hardware integration board products.

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