Today’s Stock On Watch: Could AudioCodes Ltd. Lose its Strength? The Stock Reaches 52-Week High

Today's Stock On Watch: Could AudioCodes Ltd. Lose its Strength? The Stock Reaches 52 Week High

The stock of AudioCodes Ltd. (NASDAQ:AUDC) hit a new 52-week high and has $6.81 target or 9.00% above today’s $6.25 share price. The 7 months bullish chart indicates low risk for the $206.19 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $6.81 price target is reached, the company will be worth $18.56 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 85,668 shares traded hands. AudioCodes Ltd. (NASDAQ:AUDC) has risen 38.88% since April 21, 2016 and is uptrending. It has outperformed by 33.55% the S&P500.

Analysts await AudioCodes Ltd. (NASDAQ:AUDC) to report earnings on January, 24. They expect $0.05 earnings per share, down 28.57% or $0.02 from last year’s $0.07 per share. AUDC’s profit will be $1.65M for 31.25 P/E if the $0.05 EPS becomes a reality. After $0.07 actual earnings per share reported by AudioCodes Ltd. for the previous quarter, Wall Street now forecasts -28.57% negative EPS growth.

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. Drexel Hamilton initiated AudioCodes Ltd. (NASDAQ:AUDC) on Friday, December 18 with “Hold” rating. Needham maintained AudioCodes Ltd. (NASDAQ:AUDC) rating on Wednesday, November 2. Needham has “Buy” rating and $6 price target. As per Wednesday, November 4, the company rating was maintained 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 4.83 in 2016 Q2. Its up 3.27, from 1.56 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, Barclays Public Ltd Co has 0% invested in AudioCodes Ltd. (NASDAQ:AUDC) for 15 shares. Art Advsrs Limited Liability Co holds 0% or 20,456 shares in its portfolio. Acuta Prtn Limited Liability Corporation has 45,035 shares for 0.09% of their US portfolio. Oppenheimer & owns 84,900 shares or 0.01% of their US portfolio. Goldman Sachs Gp holds 0% of its portfolio in AudioCodes Ltd. (NASDAQ:AUDC) for 112,821 shares. Eagle Global Advsrs Limited Com accumulated 71,000 shares or 0.01% of the stock. Soros Fund Limited Com reported 277,188 shares or 0.02% of all its holdings. Wells Fargo & Commerce Mn, a California-based fund reported 200 shares. Taylor Frigon Cap Lc last reported 882 shares in the company. Renaissance Technology Ltd reported 20,125 shares or 0% of all its holdings. Deutsche Fincl Bank Ag has 44,685 shares for 0% of their US portfolio. Geode Capital Mgmt Lc last reported 0% of its portfolio in the stock. Morgan Stanley holds 511,166 shares or 0% of its portfolio. Acadian Asset Mgmt Ltd Co accumulated 0% or 8,545 shares. Retail Bank Of America De holds 2,000 shares or 0% of its portfolio.

More news for AudioCodes Ltd. (NASDAQ:AUDC) were recently published by: Streetinsider.com, which released: “Audiocodes Ltd (AUDC) Commences 3M Share Tender Offer” on June 16, 2016. Quotes.Wsj.com‘s article titled: “AudioCodes Ltd. AUDC (US: Nasdaq)” and published on February 11, 2011 is yet another important article.

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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