AudioCodes (NASDAQ:AUDC) Releases Quarterly Earnings Results, Hits Estimates

AudioCodes (NASDAQ:AUDC) issued its quarterly earnings results on Tuesday. The communications equipment provider reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16, FiscalAI reports. The company had revenue of $62.61 million during the quarter, compared to the consensus estimate of $62.00 million. AudioCodes had a return on equity of 9.98% and a net margin of 5.65%.

AudioCodes Trading Up 2.0%

Shares of AudioCodes stock opened at $8.52 on Tuesday. AudioCodes has a 12-month low of $8.01 and a 12-month high of $12.72. The company has a market cap of $244.35 million, a price-to-earnings ratio of 18.52 and a beta of 1.07. The company’s 50-day moving average price is $8.77 and its 200-day moving average price is $9.31.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of AudioCodes in a research note on Monday, December 29th. Wall Street Zen raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of AudioCodes during the 2nd quarter valued at $43,000. Jane Street Group LLC raised its holdings in shares of AudioCodes by 14.2% in the 1st quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock valued at $449,000 after acquiring an additional 5,938 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 7,052 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AudioCodes by 38.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock valued at $386,000 after acquiring an additional 10,877 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of AudioCodes by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 252,768 shares of the communications equipment provider’s stock worth $2,407,000 after purchasing an additional 12,428 shares during the last quarter. 68.05% of the stock is owned by institutional investors.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.