The stock of AudioCodes Ltd. (NASDAQ:AUDC) hit a new 52-week high and has $14.36 target or 135.00% above today’s $6.11 share price. The 5 months bullish chart indicates low risk for the $201.30M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $14.36 price target is reached, the company will be worth $271.76 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 111,499 shares traded hands. AudioCodes Ltd. (NASDAQ:AUDC) has risen 37.28% since April 15, 2016 and is uptrending. It has outperformed by 32.65% 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. $6 is the highest target while $4.50 is the lowest. The $6 average target is -1.80% below today’s ($6.11) stock price. Audiocodes has been the topic of 3 analyst reports since November 4, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Drexel Hamilton on Friday, December 18. The firm has “Buy” rating by Needham given on Wednesday, November 4. On Wednesday, November 2 the stock rating was maintained by Needham with “Buy”.
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 2016 Q2. 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.
Geode Cap Management Lc accumulated 18,588 shares or 0% of the stock. Art Advisors Lc holds 0% of its portfolio in AudioCodes Ltd. (NASDAQ:AUDC) for 20,456 shares. Walleye Trading Ltd Llc, a Minnesota-based fund reported 13,082 shares. Wells Fargo And Mn holds 0% or 200 shares in its portfolio. Morgan Stanley last reported 511,166 shares in the company. Taylor Frigon Cap Mgmt Ltd Liability Com accumulated 0% or 882 shares. Tower Limited Co (Trc) last reported 20 shares in the company. Creative Planning, a Kansas-based fund reported 4,000 shares. Vanguard Grp Inc has 0% invested in the company for 420,846 shares. Barclays Plc accumulated 0% or 15 shares. Moreover, State Bank Of America De has 0% invested in AudioCodes Ltd. (NASDAQ:AUDC) for 2,000 shares. Goldman Sachs Group owns 112,821 shares or 0% of their US portfolio. Acuta Prtnrs Limited Liability accumulated 0.09% or 45,035 shares. Eagle Global Advisors Limited Company last reported 0.01% of its portfolio in the stock. Moreover, Oppenheimer has 0.01% invested in AudioCodes Ltd. (NASDAQ:AUDC) for 84,900 shares.
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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