24 Mar Expert Jon Cartu Writes – AudioCodes (NASDAQ:AUDC) Upgraded by BidaskClub to Buy
Several other research firms have also commented on AUDC. TheStreet lowered AudioCodes from an “a-” rating to a “c+” rating in a research report on Tuesday, January 28th. Sidoti lowered their price objective on AudioCodes from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, ValuEngine upgraded AudioCodes from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.00.
AudioCodes stock opened at $18.54 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. AudioCodes has a 12 month low of $9.00 and a 12 month high of $28.73. The stock’s 50 day simple moving average is $21.76 and its two-hundred day simple moving average is $22.23. The firm has a market cap of $576.32 million, a PE ratio of 154.51 and a beta of 0.64.
AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, January 28th. The communications equipment provider reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.04. AudioCodes had a return on equity of 24.11% and a net margin of 1.99%. The business had revenue of $52.80 million for the quarter.
Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of AudioCodes during the 4th quarter worth approximately $27,142,000. Phoenix Holdings Ltd. raised its stake in shares of AudioCodes by 17.5% during the 4th quarter. Phoenix Holdings Ltd. now owns 394,513 shares of the communications equipment provider’s stock worth $10,066,000 after buying an additional 58,627 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of AudioCodes by 4,736.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,983 shares of the communications equipment provider’s stock worth $51,000 after buying an additional 1,942 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of AudioCodes by 74.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 31,027 shares of the communications equipment provider’s stock worth $797,000 after buying an additional 13,270 shares during the period. Finally, Marshall Wace North America L.P. acquired a new position in shares of AudioCodes during the 4th quarter worth approximately $51,000. 35.20% 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 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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