AudioCodes (NASDAQ:AUDC) Announces Quarterly Earnings Results

AudioCodes (NASDAQ:AUDC) issued its earnings results on Tuesday. The communications equipment provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.22 by $0.09, Zacks reports. AudioCodes had a return on equity of 8.85% and a net margin of 4.99%.

AudioCodes Price Performance

Shares of NASDAQ:AUDC opened at $10.12 on Tuesday. The business’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $9.80. AudioCodes has a 1 year low of $7.70 and a 1 year high of $14.45. The company has a market capitalization of $305.83 million, a P/E ratio of 25.30 and a beta of 0.80.

Analyst Ratings Changes

Several equities analysts have commented on AUDC shares. StockNews.com downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of AudioCodes in a report on Tuesday, January 21st. Finally, Barclays reduced their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th.

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.