AudioCodes Ltd. (AUDC) Sees Unusually-High Trading Volume
AudioCodes Ltd. (NASDAQ:AUDC) saw an uptick in trading volume on Thursday . 974,975 shares changed hands during mid-day trading, an increase of 993% from the previous session’s volume of 89,188 shares.The stock last traded at $4.14 and had previously closed at $4.12.
A number of brokerages have commented on AUDC. Zacks Investment Research raised shares of AudioCodes from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Thursday, July 28th. William Blair reissued a “buy” rating on shares of AudioCodes in a research report on Tuesday, July 26th. Needham & Company LLC increased their price objective on shares of AudioCodes from $5.00 to $5.50 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, Drexel Hamilton restated a “hold” rating on shares of AudioCodes in a report on Thursday, July 28th.
The company has a market capitalization of $152.53 million and a price-to-earnings ratio of 50.36. The stock’s 50-day moving average is $4.16 and its 200 day moving average is $4.21.
AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The company earned $35.90 million during the quarter, compared to analyst estimates of $35.38 million. During the same period in the prior year, the business posted ($0.01) earnings per share. AudioCodes’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts expect that AudioCodes Ltd. will post $0.25 earnings per share for the current year.
AudioCodes Ltd. designs, develops and sells products and services for voice and data over packet networks. The Company’s products primarily provide the media gateway and session border controllers (SBC) element in the network, as well as voice over Internet protocol (VoIP), end-points, such as Internet protocol (IP) Phones and VoIP mobile clients.
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