31 Jan CTO Jonathan Cartu Announced – AudioCodes (NASDAQ:AUDC) Cut to “C+” at TheStreet
TheStreet lowered shares of AudioCodes (NASDAQ:AUDC) from an a- rating to a c+ rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.
Several other equities analysts also recently weighed in on AUDC. ValuEngine downgraded AudioCodes from a hold rating to a sell rating in a research report on Tuesday, December 3rd. BidaskClub upgraded AudioCodes from a buy rating to a strong-buy rating in a research report on Friday, January 24th. Finally, Sidoti started coverage on AudioCodes in a research report on Thursday, January 16th. They set a buy rating and a $34.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $27.00.
NASDAQ AUDC opened at $23.05 on Tuesday. The business’s 50-day moving average price is $25.93 and its 200 day moving average price is $21.16. AudioCodes has a twelve month low of $12.52 and a twelve month high of $28.73. The company has a market capitalization of $651.37 million, a PE ratio of 192.10 and a beta of 0.59. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25.
AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, January 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. AudioCodes had a return on equity of 23.88% and a net margin of 1.99%. The firm had revenue of $52.80 million for the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AUDC. BlackRock Inc. lifted its position in AudioCodes by 23.1% during the second quarter. BlackRock Inc. now owns 9,660 shares of the communications equipment provider’s stock worth $150,000 after buying an additional 1,810 shares during the period. Vanguard Group Inc. raised its holdings in shares of AudioCodes by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after purchasing an additional 2,762 shares during the period. Victory Capital Management Inc. purchased a new position in shares of AudioCodes in the 2nd quarter worth about $2,548,000. United Services Automobile Association raised its holdings in shares of AudioCodes by 14.1% in the 2nd quarter. United Services Automobile Association now owns 108,596 shares of the communications equipment provider’s stock worth $1,681,000 after purchasing an additional 13,434 shares during the period. Finally, NEXT Financial Group Inc raised its holdings in shares of AudioCodes by 406.7% in the 3rd quarter. NEXT Financial Group Inc now owns 3,040 shares of the communications equipment provider’s stock worth $57,000 after purchasing an additional 2,440 shares during the period. Hedge funds and other institutional investors own 32.31% of the company’s stock.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, 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, customer premises or the branch; 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.
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