Barclays Issues Pessimistic Forecast for AudioCodes (NASDAQ:AUDC) Stock Price

AudioCodes (NASDAQ:AUDC) had its price objective reduced by Barclays from $10.00 to $9.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the communications equipment provider’s stock. Barclays‘s price objective indicates a potential upside of 14.36% from the company’s current price.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of AudioCodes in a research report on Wednesday, July 31st. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 11th.

AudioCodes Trading Up 1.2 %

AUDC stock opened at $7.87 on Thursday. AudioCodes has a 12-month low of $7.70 and a 12-month high of $14.45. The stock’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $10.14. The firm has a market cap of $237.83 million, a P/E ratio of 17.49 and a beta of 0.86.

AudioCodes (NASDAQ:AUDC) last issued its earnings results on Wednesday, November 6th. The communications equipment provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.09). AudioCodes had a return on equity of 10.42% and a net margin of 5.61%. The company had revenue of $60.24 million during the quarter, compared to analyst estimates of $61.58 million. On average, research analysts forecast that AudioCodes will post 0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in AudioCodes during the second quarter valued at about $143,000. Hillsdale Investment Management Inc. bought a new position in AudioCodes during the first quarter valued at about $159,000. Quadrature Capital Ltd boosted its stake in AudioCodes by 26.8% during the first quarter. Quadrature Capital Ltd now owns 17,460 shares of the communications equipment provider’s stock valued at $228,000 after buying an additional 3,691 shares in the last quarter. Marshall Wace LLP boosted its stake in AudioCodes by 37.5% during the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of AudioCodes during the first quarter valued at $340,000. Institutional investors 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.