Shares of AudioCodes Ltd. (NASDAQ:AUDC) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $41.57.
A number of equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of AudioCodes in a report on Thursday, August 13th. They set a “neutral” rating and a $38.00 target price on the stock. Barclays assumed coverage on shares of AudioCodes in a report on Wednesday, August 26th. They set an “equal weight” rating and a $37.00 target price on the stock. Jefferies Financial Group increased their target price on shares of AudioCodes from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. BofA Securities initiated coverage on shares of AudioCodes in a report on Tuesday, July 21st. They set a “buy” rating and a $46.00 target price on the stock. Finally, Bank of America initiated coverage on shares of AudioCodes in a research report on Tuesday, July 21st. They issued a “buy” rating and a $46.00 price objective on the stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AUDC. Bank of Montreal Can purchased a new position in AudioCodes during the 2nd quarter worth $38,000. CWM LLC lifted its stake in shares of AudioCodes by 1,334.7% in the 3rd quarter. CWM LLC now owns 1,363 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 1,268 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of AudioCodes by 251.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,488 shares of the communications equipment provider’s stock worth $79,000 after acquiring an additional 1,780 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of AudioCodes in the 2nd quarter worth $205,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of AudioCodes in the 3rd quarter worth $215,000. 43.94% of the stock is currently owned by hedge funds and other institutional investors.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.22 by $0.10. AudioCodes had a net margin of 3.83% and a return on equity of 21.33%. The firm had revenue of $53.52 million for the quarter, compared to analyst estimates of $53.13 million. Analysts forecast that AudioCodes will post 1.01 EPS for the current fiscal year.
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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