Exclusive: What’s Ahead for AudioCodes Ltd. After Achieving 52-Week High?

Exclusive: What's Ahead for AudioCodes Ltd. After Achieving 52 Week High?

The stock of AudioCodes Ltd. (NASDAQ:AUDC) hit a new 52-week high and has $17.34 target or 197.00% above today’s $5.84 share price. The 8 months bullish chart indicates low risk for the $192.18 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $17.34 price target is reached, the company will be worth $378.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 416,696 shares traded hands or 329.98% up from the average. AudioCodes Ltd. (NASDAQ:AUDC) has risen 17.96% since April 11, 2016 and is uptrending. It has outperformed by 11.81% the S&P500.

AudioCodes Ltd. (NASDAQ:AUDC) Ratings Coverage

Out of 2 analysts covering Audiocodes (NASDAQ:AUDC), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Audiocodes has been the topic of 3 analyst reports since November 4, 2015 according to StockzIntelligence Inc. As per Friday, December 18, the company rating was initiated by Drexel Hamilton. The firm has “Buy” rating given on Wednesday, November 2 by Needham. The firm earned “Buy” rating on Wednesday, November 4 by Needham.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.56 in Q2 2016. Its up 0.38, from 1.18 in 2016Q1. The ratio increased, as 7 funds sold all AudioCodes Ltd. shares owned while 2 reduced positions. 6 funds bought stakes while 8 increased positions. They now own 1.78 million shares or 59.47% less from 4.40 million shares in 2016Q1.
Moreover, Menta Cap has 0.07% invested in AudioCodes Ltd. (NASDAQ:AUDC) for 126,212 shares. Acadian Asset Ltd Llc accumulated 8,545 shares or 0% of the stock. Barclays Public Limited Company has 15 shares for 0% of their US portfolio. Oppenheimer And Comm last reported 84,900 shares in the company. Eagle Glob Advisors Ltd Liability Com accumulated 0.01% or 71,000 shares. Bnp Paribas Arbitrage holds 0% or 8 shares in its portfolio. Goldman Sachs Grp owns 112,821 shares or 0% of their US portfolio. Vanguard Gp Inc has 420,846 shares for 0% of their US portfolio. Tower Research Llc (Trc) accumulated 20 shares or 0% of the stock. Moreover, Geode Cap Mgmt Lc has 0% invested in AudioCodes Ltd. (NASDAQ:AUDC) for 18,588 shares. Deutsche Fincl Bank Ag accumulated 44,685 shares or 0% of the stock. Art Advsrs Limited Company holds 20,456 shares or 0% of its portfolio. Renaissance Llc last reported 20,125 shares in the company. Acuta Capital Partners Limited Liability Com holds 0.09% or 45,035 shares in its portfolio. The Michigan-based Plante Moran Advsr has invested 0% in AudioCodes Ltd. (NASDAQ:AUDC).

AUDC Company Profile

AudioCodes Ltd. (AudioCodes), incorporated on November 22, 1992, 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 whether deployed on-premise or delivered from the cloud. The Firm categorizes its services and products into two main business lines: network and technology. Network products consist of customer premises equipment (CPE), gateways for the enterprise and service well-known provider (or carrier) markets and of carrier-grade-oriented low- and mid-density media gateways for service providers and Enterprise Session Border Controls (ESBCs). Complementing its media gateways and session border gateways as network products are its multi-service business routers (MSBR), Internet Protocol (IP) phones, media servers, mobile VoIP solutions and value added application products. Technology products consist of its chips and boards business products. The Company’s products are deployed globally in enterprise, service well-known provider cloud networks. AudioCodes’ products include IP phones, media gateways, residential gateways, media servers, mobile communications solutions, life cycle management solutions and professional services.

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