Zacks Investment Research upgraded shares of AudioCodes (NASDAQ:AUDC) from a hold rating to a buy rating in a research note published on Tuesday morning. They currently have $8.50 target price on the communications equipment provider’s stock.

According to Zacks, “AUDIOCODES LTD designs, develops and markets enabling technologies and communication components for the transmission of voice, fax and modem over packet networks. Newly developed Voice over IP gateways as well as DSL and ATM access devices, enable packet networks to carry voice and data more efficiently and at lower cost than traditional telephone networks. They are a provider of voice over packet communication components that empower the development of equipment for these emerging markets. “

A number of other research analysts have also recently commented on AUDC. William Blair reissued a buy rating on shares of AudioCodes in a report on Wednesday, October 25th. Needham & Company LLC boosted their price target on AudioCodes from $8.00 to $8.50 and gave the stock a buy rating in a report on Thursday, October 26th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $8.17.

AudioCodes (NASDAQ:AUDC) opened at $7.73 on Tuesday. AudioCodes has a 12-month low of $5.83 and a 12-month high of $8.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.34 and a current ratio of 1.71. The firm has a market capitalization of $244.09, a PE ratio of 14.31 and a beta of 0.31.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. AudioCodes had a return on equity of 9.82% and a net margin of 2.57%. The company had revenue of $41.40 million for the quarter, compared to analysts’ expectations of $40.30 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. sell-side analysts predict that AudioCodes will post 0.28 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP purchased a new position in AudioCodes in the 3rd quarter worth approximately $123,000. Royal Bank of Canada lifted its holdings in AudioCodes by 3.6% in the 2nd quarter. Royal Bank of Canada now owns 34,499 shares of the communications equipment provider’s stock worth $207,000 after purchasing an additional 1,200 shares in the last quarter. Menta Capital LLC lifted its holdings in AudioCodes by 5.4% in the 2nd quarter. Menta Capital LLC now owns 57,048 shares of the communications equipment provider’s stock worth $342,000 after purchasing an additional 2,900 shares in the last quarter. Macquarie Group Ltd. purchased a new position in AudioCodes in the 3rd quarter worth approximately $713,000. Finally, First Trust Advisors LP lifted its holdings in AudioCodes by 112.6% in the 3rd quarter. First Trust Advisors LP now owns 105,385 shares of the communications equipment provider’s stock worth $752,000 after purchasing an additional 55,820 shares in the last quarter. 22.75% of the stock is currently owned by institutional investors.

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About AudioCodes

AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.

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