AudioCodes' (AUDC) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• AudioCodes (AUDC) has had its "hold (c)" rating reaffirmed by Weiss Ratings, indicating a cautious outlook on the stock.
• The stock's average target price is projected at $11.25, with varying ratings from analysts including one "buy," two "hold," and one "sell."
• Recent activity shows increased institutional investor interest, with firms like Raymond James and Goldman Sachs acquiring new positions in the company.

AudioCodes (NASDAQ:AUDC - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently commented on the stock. Wall Street Zen downgraded shares of AudioCodes from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Zacks Research raised AudioCodes from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.25.

AudioCodes Price Performance

AUDC traded up $0.13 during midday trading on Wednesday, reaching $9.76. 87,671 shares of the company's stock were exchanged, compared to its average volume of 102,100. AudioCodes has a 1-year low of $7.70 and a 1-year high of $12.72. The business's 50-day moving average price is $9.76 and its 200 day moving average price is $9.49. The stock has a market capitalization of $279.92 million, a PE ratio of 21.69 and a beta of 0.96.

Institutional Investors Weigh In On AudioCodes

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of AudioCodes during the second quarter worth approximately $43,000. Jump Financial LLC acquired a new position in AudioCodes during the 2nd quarter worth $127,000. Cubist Systematic Strategies LLC boosted its position in AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider's stock worth $185,000 after acquiring an additional 7,052 shares during the period. JPMorgan Chase & Co. grew its stake in shares of AudioCodes by 38.3% in the second quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider's stock worth $386,000 after purchasing an additional 10,877 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of AudioCodes during the first quarter valued at $412,000. Institutional investors and hedge funds own 68.05% of the company's stock.

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.

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