Barclays Issues Positive Forecast for AudioCodes (NASDAQ:AUDC) Stock Price

AudioCodes (NASDAQ:AUDC) had its price objective boosted by Barclays from $9.00 to $10.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an underweight rating on the communications equipment provider’s stock.

A number of other brokerages have also recently weighed in on AUDC. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of AudioCodes in a research report on Tuesday, January 21st. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

AudioCodes Trading Up 6.6 %

NASDAQ:AUDC opened at $11.36 on Wednesday. AudioCodes has a 1-year low of $7.70 and a 1-year high of $14.45. The firm has a market capitalization of $343.27 million, a price-to-earnings ratio of 28.40 and a beta of 0.80. The business’s 50-day moving average price is $9.86 and its two-hundred day moving average price is $9.80.

AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. AudioCodes had a return on equity of 8.85% and a net margin of 4.99%. Sell-side analysts predict that AudioCodes will post 0.51 earnings per share for the current year.

Institutional Trading of AudioCodes

Several hedge funds have recently bought and sold shares of AUDC. Marshall Wace LLP boosted its holdings in shares of AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares during the period. Assenagon Asset Management S.A. bought a new stake in AudioCodes in the 3rd quarter valued at $1,618,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in AudioCodes by 11.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock valued at $893,000 after acquiring an additional 9,150 shares in the last quarter. Senvest Management LLC boosted its stake in AudioCodes by 1.5% in the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after purchasing an additional 37,080 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in AudioCodes during the 3rd quarter worth about $595,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

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.