AudioCodes Ltd. (NASDAQ:AUDC)’s stock price reached a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $17.50 and last traded at $17.09, with a volume of 11232 shares traded. The stock had previously closed at $16.45.
The communications equipment provider reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $49.50 million for the quarter. AudioCodes had a return on equity of 21.67% and a net margin of 8.86%.
A number of analysts recently commented on AUDC shares. Needham & Company LLC increased their price objective on AudioCodes to $20.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.33.
The business has a 50-day moving average price of $15.83. The firm has a market cap of $526.83 million, a PE ratio of 26.60 and a beta of 0.59. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.27.
About AudioCodes (NASDAQ:AUDC)
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, 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, customer premises or the branch; 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.
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