AudioCodes (NASDAQ:AUDC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.
Separately, Needham & Company LLC reissued a "buy" rating and issued a $12.50 price objective on shares of AudioCodes in a research note on Wednesday, May 7th.
Check Out Our Latest Analysis on AUDC
AudioCodes Trading Up 3.6%
AUDC stock traded up $0.34 during trading on Friday, hitting $9.69. The company had a trading volume of 48,909 shares, compared to its average volume of 83,408. The business has a 50 day moving average of $9.16 and a 200 day moving average of $9.83. The firm has a market capitalization of $287.60 million, a price-to-earnings ratio of 17.30 and a beta of 0.88. AudioCodes has a fifty-two week low of $7.70 and a fifty-two week high of $12.72.
Hedge Funds Weigh In On AudioCodes
Several hedge funds have recently made changes to their positions in AUDC. Blue Trust Inc. lifted its stake in AudioCodes by 151.8% during the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock valued at $35,000 after purchasing an additional 2,185 shares during the last quarter. Norges Bank bought a new position in shares of AudioCodes in the fourth quarter valued at $120,000. Cubist Systematic Strategies LLC lifted its position in shares of AudioCodes by 56.0% during the 1st 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 last quarter. Jane Street Group LLC bought a new stake in shares of AudioCodes during the 4th quarter worth $406,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of AudioCodes in the 1st quarter worth $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.
Read More
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
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
