AudioCodes Ltd. (AUDC) is Reiterated by Needham to Buy, Raises Price Target to $ 5.50

AudioCodes Ltd. (AUDC) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 5.50 from a previous price target of $5 . Needham advised their investors in a research report released on Jul 27, 2016.

On the company’s financial health, AudioCodes Ltd. reported $0.06 EPS for the quarter, based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus estimate of $0.06. The company had revenue of $35.90 million for the quarter, compared to analysts expectations of $35.38 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

AudioCodes Ltd. closed down -0.06 points or -1.43% at $4.14 with 82,597 shares getting traded on Thursday. Post opening the session at $4.18, the shares hit an intraday low of $4.08 and an intraday high of $4.24 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

AudioCodes Ltd. designs develops and sells products and services for voice and data over packet networks. The Company’s products primarily provide the media gateway and session border controllers (SBC) element in the network as well as voice over Internet protocol (VoIP) end-points such as Internet protocol (IP) Phones and VoIP mobile clients. The Company’s products facilitate the transmission of voice data and fax over packet networks. Its Network products consist of customer premises equipment (CPE) gateways for the enterprise and service provider (or carrier) markets and of carrier-grade-oriented low- and mid-density media gateways for service providers and ESBCs. Its technology products are enabling in nature and consist of its chips and boards business products. The Company operates in Netherlands through Active Communications Europe BV which provides computer system design services.

AudioCodes Ltd.

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