AudioCodes (NASDAQ:AUDC) Given New $10.00 Price Target at Barclays

AudioCodes (NASDAQ:AUDC) had its target price trimmed by Barclays from $12.00 to $10.00 in a report released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the communications equipment provider’s stock.

AUDC has been the topic of several other reports. StockNews.com upgraded shares of AudioCodes from a buy rating to a strong-buy rating in a research note on Tuesday, April 30th. Needham & Company LLC raised their target price on shares of AudioCodes from $16.00 to $18.00 and gave the stock a buy rating in a report on Tuesday, February 6th.

AudioCodes Stock Down 0.4 %

AudioCodes stock opened at $9.88 on Wednesday. AudioCodes has a twelve month low of $7.14 and a twelve month high of $14.45. The stock has a market cap of $299.60 million, a P/E ratio of 35.29, a P/E/G ratio of 0.65 and a beta of 0.84. The company’s 50-day moving average price is $12.16 and its two-hundred day moving average price is $11.70.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $63.56 million during the quarter, compared to analysts’ expectations of $64.18 million. AudioCodes had a return on equity of 7.35% and a net margin of 3.59%. Equities analysts anticipate that AudioCodes will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AudioCodes

Several institutional investors and hedge funds have recently bought and sold shares of AUDC. Raymond James Financial Services Advisors Inc. acquired a new position in shares of AudioCodes in the 3rd quarter valued at approximately $116,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in AudioCodes during the third quarter valued at approximately $134,000. Quadrature Capital Ltd acquired a new stake in shares of AudioCodes in the 4th quarter valued at $166,000. Cornerstone Investment Partners LLC bought a new position in shares of AudioCodes in the 4th quarter valued at $173,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of AudioCodes during the 3rd quarter worth $188,000. Institutional investors own 68.05% of the company’s stock.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.