AudioCodes (NASDAQ:AUDC) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

AudioCodes (NASDAQ:AUDC) released its quarterly earnings results on Tuesday. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09, Zacks reports. AudioCodes had a return on equity of 8.85% and a net margin of 4.99%.

AudioCodes Stock Performance

AudioCodes stock opened at $10.12 on Tuesday. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45. The stock has a market capitalization of $305.83 million, a P/E ratio of 25.30 and a beta of 0.80. The stock has a fifty day moving average of $9.82 and a 200-day moving average of $9.80.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AUDC shares. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of AudioCodes in a research note on Tuesday, January 21st. Barclays reduced their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com cut AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 28th.

AudioCodes Company Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.