AudioCodes (NASDAQ:AUDC) Raised to Strong-Buy at Wall Street Zen

Key Points

• AudioCodes was upgraded by Wall Street Zen from a “buy” to a “strong-buy” rating, signaling increased analyst confidence in the stock.
• The stock recently traded at $8.42, near its 50-day and 200-day moving averages, with a market cap of about $214 million and a 52-week range of $6.95 to $11.50.
• In its latest quarterly report, AudioCodes missed EPS estimates by $0.02, though revenue of $62.14 million came in slightly above expectations; institutional investors also hold a large stake in the company.

AudioCodes (NASDAQ:AUDC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

AudioCodes Price Performance

AUDC stock opened at $8.42 on Friday. The company has a 50 day moving average price of $8.51 and a 200 day moving average price of $8.58. AudioCodes has a fifty-two week low of $6.95 and a fifty-two week high of $11.50. The stock has a market capitalization of $214.29 million, a PE ratio of 33.68 and a beta of 0.95.

AudioCodes (NASDAQ:AUDC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.33%. The firm had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.50 million.

Hedge Funds Weigh In On AudioCodes

Several large investors have recently made changes to their positions in AUDC. Cubist Systematic Strategies LLC lifted its stake in shares of AudioCodes by 56.0% during the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider's stock valued at $185,000 after acquiring an additional 7,052 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of AudioCodes during the first quarter valued at $412,000. Jane Street Group LLC lifted its stake in shares of AudioCodes by 14.2% during the first quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider's stock valued at $449,000 after acquiring an additional 5,938 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of AudioCodes by 38.3% during the second quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider's stock valued at $386,000 after acquiring an additional 10,877 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of AudioCodes by 12.3% during the second quarter. Marshall Wace LLP now owns 179,371 shares of the communications equipment provider's stock valued at $1,761,000 after acquiring an additional 19,629 shares during the period. Institutional investors and hedge funds own 68.05% of the company's stock.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha'Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.

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