ValuEngine Upgrades AudioCodes (NASDAQ:AUDC) to Hold

ValuEngine upgraded shares of AudioCodes (NASDAQ:AUDC) from a sell rating to a hold rating in a report published on Tuesday, ValuEngine reports.

Several other equities analysts also recently commented on the company. BidaskClub upgraded AudioCodes from a sell rating to a hold rating in a research note on Tuesday, October 22nd. Needham & Company LLC upped their price objective on AudioCodes to $20.00 and gave the company a buy rating in a research note on Tuesday, July 23rd.

AUDC stock traded down $0.67 during trading on Tuesday, reaching $21.28. 215,100 shares of the stock were exchanged, compared to its average volume of 221,598. AudioCodes has a twelve month low of $9.00 and a twelve month high of $22.50. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $19.47 and its 200 day moving average is $17.24. The firm has a market cap of $627.56 million, a P/E ratio of 29.47 and a beta of 0.55.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, October 29th. The communications equipment provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. AudioCodes had a return on equity of 23.08% and a net margin of 8.66%. The business had revenue of $51.41 million for the quarter.

Large investors have recently bought and sold shares of the business. Bogle Investment Management L P DE lifted its position in shares of AudioCodes by 116.5% during the second quarter. Bogle Investment Management L P DE now owns 130,778 shares of the communications equipment provider’s stock worth $2,024,000 after acquiring an additional 70,373 shares in the last quarter. Altshuler Shaham Ltd lifted its position in shares of AudioCodes by 22.1% during the second quarter. Altshuler Shaham Ltd now owns 285,252 shares of the communications equipment provider’s stock worth $4,463,000 after acquiring an additional 51,551 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of AudioCodes during the second quarter worth $602,000. Vanguard Group Inc. lifted its position in shares of AudioCodes by 0.6% during the second quarter. Vanguard Group Inc. now owns 482,435 shares of the communications equipment provider’s stock worth $7,468,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Qtron Investments LLC lifted its position in shares of AudioCodes by 9.9% during the second quarter. Qtron Investments LLC now owns 22,586 shares of the communications equipment provider’s stock worth $350,000 after acquiring an additional 2,028 shares in the last quarter. Hedge funds and other institutional investors own 30.60% of the company’s stock.

AudioCodes Company Profile

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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