AudioCodes Ltd. (AUDC) Shares Up 3.7%
AudioCodes Ltd. (NASDAQ:AUDC) shot up 3.7% during trading on Tuesday . The stock traded as high as $5.04 and last traded at $5.03, with a volume of 89,107 shares trading hands. The stock had previously closed at $4.85.
Several brokerages recently commented on AUDC. William Blair reiterated a “buy” rating on shares of AudioCodes in a report on Wednesday, May 4th. Zacks Investment Research downgraded AudioCodes from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Drexel Hamilton reiterated a “hold” rating on shares of AudioCodes in a report on Thursday, July 28th. Finally, Needham & Company LLC raised their target price on AudioCodes from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, July 27th.
The firm has a market cap of $185.37 million and a P/E ratio of 61.20. The stock has a 50 day moving average of $4.28 and a 200-day moving average of $4.24.
AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $35.90 million for the quarter, compared to analyst estimates of $35.38 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts anticipate that AudioCodes Ltd. will post $0.25 earnings per share for the current fiscal 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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