AudioCodes (AUDC) Downgraded by BidaskClub

AudioCodes (NASDAQ:AUDC) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday, November 9th.

AUDC has been the topic of several other research reports. ValuEngine upgraded shares of AudioCodes from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Needham & Company LLC increased their price objective on shares of AudioCodes from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research upgraded shares of AudioCodes from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, July 26th. Five investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $10.00.

Shares of AudioCodes stock traded up $0.70 during trading on Friday, reaching $11.48. The company had a trading volume of 255,575 shares, compared to its average volume of 128,783. The firm has a market cap of $310.64 million, a PE ratio of 37.03 and a beta of 0.31. AudioCodes has a fifty-two week low of $6.62 and a fifty-two week high of $12.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.58 and a current ratio of 1.97.

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

Large investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in AudioCodes in the 2nd quarter worth approximately $113,000. Caxton Associates LP acquired a new position in AudioCodes in the 3rd quarter worth approximately $135,000. Jane Street Group LLC acquired a new position in AudioCodes in the 3rd quarter worth approximately $142,000. UBS Group AG boosted its stake in AudioCodes by 154.1% in the 1st quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock worth $148,000 after purchasing an additional 12,585 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in AudioCodes in the 3rd quarter worth approximately $160,000. Institutional investors own 30.62% of the company’s stock.

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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