AudioCodes (NASDAQ:AUDC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of AudioCodes Ltd. (NASDAQ:AUDC) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.83 and traded as high as $10.18. AudioCodes shares last traded at $9.99, with a volume of 110,075 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on AUDC shares. Needham & Company LLC decreased their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Barclays dropped their price objective on AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th.

AudioCodes Stock Up 0.5 %

The firm has a market cap of $301.87 million, a price-to-earnings ratio of 24.98 and a beta of 0.81. The company’s 50-day moving average price is $9.15 and its 200-day moving average price is $9.83.

Hedge Funds Weigh In On AudioCodes

A number of hedge funds have recently made changes to their positions in AUDC. Assenagon Asset Management S.A. purchased a new stake in shares of AudioCodes during the third quarter worth approximately $1,618,000. Y.D. More Investments Ltd purchased a new stake in shares of AudioCodes during the second quarter worth $1,123,000. Public Employees Retirement System of Ohio acquired a new stake in shares of AudioCodes in the third quarter valued at about $595,000. JPMorgan Chase & Co. lifted its stake in shares of AudioCodes by 95.1% in the third quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after buying an additional 50,704 shares in the last quarter. Finally, Senvest Management LLC boosted its position in AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after acquiring an additional 37,080 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

AudioCodes Company Profile

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.