UPDATE: Needham & Company Starts AudioCodes (AUDC) at Buy

June 21, 2021 4:07 PM EDT
Get Alerts AUDC Hot Sheet
Price: $32.86 +2.53%

Rating Summary:
    6 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 11 | New: 19
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(Updated - June 21, 2021 4:17 PM EDT)

Needham & Company analyst Ryan Koontz initiates coverage on AudioCodes (NASDAQ: AUDC) with a Buy rating and a price target of $40.00.

The analyst commented, "We initiate coverage of AUDC with a Buy rating and a PT of $40. We see AUDC as the global leader in enterprise session border controllers, a software product segment that is benefiting from cloud voice adoption, including UCaaS and CCaaS. We think AUDC has a strong product portfolio and, most importantly, is tightly integrated with the Microsoft Teams (MSFT, not rated) ecosystem, now with > 145M DAUs.

We view consensus revenue estimates as achievable and think that the easing of pandemic restrictions is unlikely to slow global adoption. Our $40 price target is equivalent to an EV/Sales multiple of 4.6x our F22 estimate."

For an analyst ratings summary and ratings history on AudioCodes click here. For more ratings news on AudioCodes click here.

Shares of AudioCodes closed at $33.68 yesterday.



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