AudioCodes Ltd. (NASDAQ:AUDC) shares reached a new 52-week high on Wednesday . The company traded as high as $5.24 and last traded at $5.19, with a volume of 156,818 shares changing hands. The stock had previously closed at $5.08.

A number of research firms have weighed in on AUDC. William Blair reaffirmed a “buy” rating on shares of AudioCodes in a report on Wednesday, May 4th. Zacks Investment Research raised AudioCodes from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Thursday, July 28th. Needham & Company LLC lifted 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. Finally, Drexel Hamilton reaffirmed a “hold” rating on shares of AudioCodes in a report on Thursday, July 28th.

The firm has a market capitalization of $193.03 million and a P/E ratio of 63.73. The company has a 50-day moving average of $4.36 and a 200 day moving average of $4.26.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $35.38 million. During the same period last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that AudioCodes Ltd. will post $0.25 EPS 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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