AudioCodes (NASDAQ:AUDC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other research analysts have also recently issued reports on AUDC. Zacks Investment Research cut AudioCodes from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine upgraded AudioCodes from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Finally, Needham & Company LLC raised their price objective on AudioCodes from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Five equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $10.00.
Shares of NASDAQ:AUDC opened at $9.45 on Thursday. AudioCodes has a 52-week low of $6.15 and a 52-week high of $11.48. The stock has a market capitalization of $279.52 million, a PE ratio of 30.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.99 and a quick ratio of 1.63.
A number of institutional investors have recently bought and sold shares of AUDC. UBS Group AG grew its holdings in AudioCodes by 154.1% during the first quarter. UBS Group AG now owns 20,751 shares of the communications equipment provider’s stock worth $148,000 after acquiring an additional 12,585 shares during the period. A.R.T. Advisors LLC acquired a new stake in AudioCodes during the first quarter worth about $118,000. Acadian Asset Management LLC acquired a new stake in AudioCodes during the second quarter worth about $7,793,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in AudioCodes during the second quarter worth about $113,000. Finally, Renaissance Technologies LLC grew its holdings in AudioCodes by 2.2% during the second quarter. Renaissance Technologies LLC now owns 211,600 shares of the communications equipment provider’s stock worth $1,646,000 after acquiring an additional 4,567 shares during the period. 24.33% of the stock is currently owned by hedge funds and other institutional investors.
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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