From MarketBeat:

AudioCodes, a communications equipment provider, was upgraded from “hold” to “buy” by analysts at StockNews.com. Its stock traded at $11.76 on Thursday, down 1.3%, with a trading volume of 59,022 shares. The company’s yearly low is at $7.14 and high at $20.60, with a market cap of $372.66 million and a PE ratio of 30.15.

In its last quarterly earnings report, AudioCodes announced $0.17 EPS, beating consensus estimates by $0.08. The company’s quarterly revenue was reported at $61.59 million, slightly below analysts’ expectations. AudioCodes is expected to post $0.41 EPS for the current year.

Ameriprise Financial Inc., Senvest Management, Trexquant Investment, Mutual Advisors, and Connor Clark & Lunn Investment Management Ltd. have recently modified their holdings in AudioCodes. According to statistics, 51.68% of the stock is owned by institutional investors.

AudioCodes provides communications software, products, and productivity solutions for the digital workplace, including unified communications, contact centers, and various business solutions. The company offers a wide range of products and services for communication needs.

This news alert was generated by MarketBeat for fast and accurate reporting. Before considering AudioCodes, check out the list of top analyst picks for better investment options. AudioCodes currently has a “Reduce” rating, but MarketBeat has identified five stocks that are better buys.

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Read more: AudioCodes (NASDAQ:AUDC) Stock Rating Upgraded by StockNews.com