Shares of AudioCodes Ltd. (NASDAQ:AUDC) shot up 2.2% on Thursday . The stock traded as high as $5.65 and last traded at $5.57, with a volume of 376,489 shares. The stock had previously closed at $5.45.

Several research firms recently weighed in on AUDC. William Blair reissued a “buy” rating on shares of AudioCodes in a report on Tuesday, July 26th. Zacks Investment Research raised AudioCodes from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Thursday, July 28th. Drexel Hamilton reaffirmed a “hold” rating on shares of AudioCodes in a report on Thursday, July 28th. Finally, Needham & Company LLC lifted their price objective on AudioCodes from $5.00 to $5.50 and gave the company a “buy” rating in a report on Wednesday, July 27th.

The company has a 50-day moving average price of $4.54 and a 200-day moving average price of $4.32. The firm has a market capitalization of $207.99 million and a P/E ratio of 68.67.

AudioCodes (NASDAQ:AUDC) last released its earnings results on Tuesday, July 26th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. During the same period in the prior year, the company earned ($0.01) earnings per share. The business earned $35.90 million during the quarter, compared to the consensus estimate of $35.38 million. The business’s revenue was up 10.8% on a year-over-year basis. Equities analysts expect 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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