AudioCodes (NASDAQ:AUDC) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of AudioCodes (NASDAQ:AUDC) from a buy rating to a strong-buy rating in a research report report published on Monday morning.

Several other research firms have also weighed in on AUDC. Barclays lowered their price target on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC lowered their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th.

AudioCodes Trading Down 2.7 %

Shares of AUDC opened at $8.95 on Monday. The firm has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $9.86. AudioCodes has a 12 month low of $7.70 and a 12 month high of $14.45. The stock has a market capitalization of $270.44 million, a price-to-earnings ratio of 22.38 and a beta of 0.84.

Hedge Funds Weigh In On AudioCodes

A number of hedge funds have recently bought and sold shares of the business. Senvest Management LLC lifted its position in shares of AudioCodes by 1.5% during the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after acquiring an additional 37,080 shares during the period. Taylor Frigon Capital Management LLC boosted its position in AudioCodes by 85.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 441,878 shares of the communications equipment provider’s stock valued at $4,587,000 after buying an additional 203,399 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of AudioCodes by 9.5% during the second quarter. ARK Investment Management LLC now owns 202,182 shares of the communications equipment provider’s stock worth $2,099,000 after buying an additional 17,589 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of AudioCodes during the third quarter worth $1,618,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of AudioCodes during the 2nd quarter valued at $1,123,000. 68.05% of the stock is owned by institutional investors.

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.