AudioCodes (NASDAQ:AUDC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.
Separately, Needham & Company LLC restated a "buy" rating and set a $12.50 price objective on shares of AudioCodes in a research note on Wednesday, May 7th.
Check Out Our Latest Report on AudioCodes
AudioCodes Stock Up 1.6%
Shares of AUDC stock opened at $9.63 on Friday. The firm has a market cap of $285.82 million, a price-to-earnings ratio of 19.26 and a beta of 0.88. AudioCodes has a 52-week low of $7.70 and a 52-week high of $12.72. The company's 50 day moving average is $9.04 and its 200 day moving average is $9.82.
Institutional Trading of AudioCodes
A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock worth $35,000 after acquiring an additional 2,185 shares in the last quarter. Norges Bank acquired a new position in AudioCodes during the 4th quarter valued at approximately $120,000. Cubist Systematic Strategies LLC raised its holdings in shares of AudioCodes by 56.0% in the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider's stock worth $185,000 after buying an additional 7,052 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of AudioCodes during the fourth quarter worth $406,000. Finally, Goldman Sachs Group Inc. purchased a new stake 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.
About AudioCodes
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider AudioCodes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AudioCodes wasn't on the list.
While AudioCodes currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
