AudioCodes (NASDAQ:AUDC) Rating Lowered to “Buy” at StockNews.com

AudioCodes (NASDAQ:AUDC) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Several other research firms have also recently commented on AUDC. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of AudioCodes in a research note on Tuesday, January 21st. Barclays cut their target price on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th.

AudioCodes Stock Performance

AudioCodes stock opened at $10.29 on Tuesday. The business’s 50-day simple moving average is $9.74 and its 200-day simple moving average is $9.82. The firm has a market capitalization of $310.96 million, a PE ratio of 25.73 and a beta of 0.81. AudioCodes has a 52 week low of $7.70 and a 52 week high of $14.45.

Hedge Funds Weigh In On AudioCodes

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in AudioCodes by 151.8% in the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider’s stock worth $35,000 after acquiring an additional 2,185 shares during the period. R Squared Ltd bought a new stake in shares of AudioCodes in the fourth quarter valued at approximately $97,000. XTX Topco Ltd purchased a new position in shares of AudioCodes in the second quarter valued at $143,000. DGS Capital Management LLC grew its holdings in AudioCodes by 72.8% during the 3rd quarter. DGS Capital Management LLC now owns 21,672 shares of the communications equipment provider’s stock valued at $211,000 after buying an additional 9,133 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of AudioCodes by 37.5% during the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after buying an additional 7,009 shares during the period. 68.05% of the stock is currently owned by institutional investors.

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.