The stock of AudioCodes Ltd. (NASDAQ:AUDC) hit a new 52-week high and has $6.78 target or 8.00% above today’s $6.28 share price. The 5 months bullish chart indicates low risk for the $205.70M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $6.78 price target is reached, the company will be worth $16.46M 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 73,744 shares traded hands. AudioCodes Ltd. (NASDAQ:AUDC) has risen 47.89% since April 25, 2016 and is uptrending. It has outperformed by 41.87% the S&P500.
Analysts await AudioCodes Ltd. (NASDAQ:AUDC) to report earnings on January, 24. They expect $0.05 EPS, down 28.57% or $0.02 from last year’s $0.07 per share. AUDC’s profit will be $1.64 million for 31.40 P/E if the $0.05 EPS becomes a reality. After $0.07 actual EPS 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. $6 is the highest target while $4.50 is the lowest. The $6 average target is -4.46% below today’s ($6.28) stock price. Audiocodes has been the topic of 3 analyst reports since November 4, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Needham on Wednesday, November 2. The rating was initiated by Drexel Hamilton with “Hold” on Friday, December 18. 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 4.83 in Q2 2016. 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.
Acadian Asset Management Limited Liability Corporation reported 8,545 shares or 0% of all its holdings. Art Limited holds 20,456 shares or 0% of its portfolio. Creative Planning has invested 0% of its portfolio in AudioCodes Ltd. (NASDAQ:AUDC). Walleye Trading Llc holds 0% or 13,082 shares in its portfolio. Menta Ltd Limited Liability Company accumulated 0.07% or 126,212 shares. Bank & Trust Of America Corp De accumulated 2,000 shares or 0% of the stock. Barclays Public Limited Company holds 15 shares or 0% of its portfolio. Oppenheimer & Incorporated, a New York-based fund reported 84,900 shares. Soros Fund Mngmt Ltd has 0.02% invested in the company for 277,188 shares. Morgan Stanley reported 511,166 shares or 0% of all its holdings. Geode Mngmt Ltd Liability has invested 0% of its portfolio in AudioCodes Ltd. (NASDAQ:AUDC). Goldman Sachs Grp accumulated 0% or 112,821 shares. Renaissance Tech, a New York-based fund reported 20,125 shares. Vanguard, a Pennsylvania-based fund reported 420,846 shares. Deutsche Savings Bank Ag last reported 44,685 shares in the company.
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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