Barclays Cuts AudioCodes (NASDAQ:AUDC) Price Target to $10.00

AudioCodes (NASDAQ:AUDC) had its price target decreased by Barclays from $12.00 to $10.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the communications equipment provider’s stock. Barclays‘s price target suggests a potential upside of 1.63% from the company’s current price.

Several other analysts have also issued reports on the stock. Needham & Company LLC increased their price target on shares of AudioCodes from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th.

AudioCodes Trading Down 0.8 %

Shares of NASDAQ:AUDC traded down $0.08 during trading on Wednesday, reaching $9.84. 132,300 shares of the stock were exchanged, compared to its average volume of 79,367. The firm has a market cap of $298.39 million, a PE ratio of 35.00, a PEG ratio of 0.65 and a beta of 0.84. AudioCodes has a 12 month low of $7.14 and a 12 month high of $14.45. The stock has a 50-day moving average price of $12.23 and a 200-day moving average price of $11.71.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $63.56 million for the quarter, compared to analyst estimates of $64.18 million. AudioCodes had a net margin of 3.59% and a return on equity of 7.35%. On average, sell-side analysts expect that AudioCodes will post 0.68 earnings per share for the current fiscal year.

Institutional Trading of AudioCodes

Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in AudioCodes by 62.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,423 shares of the communications equipment provider’s stock worth $206,000 after acquiring an additional 7,856 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in AudioCodes in the third quarter valued at $116,000. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of AudioCodes during the third quarter valued at about $203,000. Heartland Advisors Inc. boosted its position in shares of AudioCodes by 236.0% during the 3rd quarter. Heartland Advisors Inc. now owns 780,500 shares of the communications equipment provider’s stock worth $7,891,000 after purchasing an additional 548,200 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of AudioCodes in the 3rd quarter valued at about $188,000. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Company Profile

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.