Barclays Increases AudioCodes (NASDAQ:AUDC) Price Target to $10.00

AudioCodes (NASDAQ:AUDC) had its price objective upped by investment analysts at Barclays from $9.00 to $10.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the communications equipment provider’s stock. Barclays‘s price target would indicate a potential downside of 6.19% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of AudioCodes in a research note on Tuesday, January 21st.

AudioCodes Trading Up 5.3 %

AudioCodes stock opened at $10.66 on Wednesday. The stock has a 50 day moving average of $9.86 and a two-hundred day moving average of $9.80. AudioCodes has a twelve month low of $7.70 and a twelve month high of $14.45. The stock has a market capitalization of $322.15 million, a price-to-earnings ratio of 26.65 and a beta of 0.80.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. Equities analysts predict that AudioCodes will post 0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of AudioCodes by 151.8% during the 4th 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. R Squared Ltd acquired a new position in AudioCodes during the fourth quarter worth $97,000. DGS Capital Management LLC boosted its position in AudioCodes by 72.8% during the third quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock worth $211,000 after purchasing an additional 9,133 shares in the last quarter. Marshall Wace LLP grew its holdings in AudioCodes by 37.5% in the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 7,009 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of AudioCodes by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider’s stock valued at $509,000 after buying an additional 1,419 shares in the last quarter. 68.05% of the stock is currently owned by institutional investors and hedge funds.

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.