AudioCodes Ltd. (NASDAQ:AUDC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $4.93 and last traded at $4.89, with a volume of 86,615 shares. The stock had previously closed at $4.68.

Several equities research analysts have issued reports on the company. William Blair reaffirmed a “buy” rating on shares of AudioCodes in a research note on Wednesday, May 4th. Zacks Investment Research lowered AudioCodes from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Drexel Hamilton reaffirmed a “hold” rating on shares of AudioCodes in a research note on Thursday, July 28th. Finally, Needham & Company LLC lifted their price target on AudioCodes from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Wednesday, July 27th.

The company has a market capitalization of $178.80 million and a P/E ratio of 59.04. The firm’s 50 day moving average price is $4.26 and its 200-day moving average price is $4.24.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The company earned $35.90 million during the quarter, compared to analysts’ expectations of $35.38 million. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) earnings per share. On average, equities research 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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