AudioCodes (AUDC) shares soared 6.7% within the final buying and selling session to shut at $9.34. The transfer was backed by strong quantity with way more shares altering arms than in a standard session. This compares to the inventory’s 18.8% loss over the previous 4 weeks.
AudioCodes is more likely to have benefited from the secular tailwinds associated to IP-based communications. The uptrend can also be anticipated to have been triggered by its continued concentrate on high-margin companies, leading to a faster-than-expected growth in working margins. Its long-term partnership with Microsoft has additional helped it strengthen its market place.
This communication parts firm is predicted to publish quarterly earnings of $0.25 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are anticipated to be $61.58 million, down 0% from the year-ago quarter.
Whereas earnings and income progress expectations are necessary in evaluating the potential power in a inventory, empirical analysis reveals a robust correlation between traits in earnings estimate revisions and near-term inventory worth actions.
For AudioCodes, the consensus EPS estimate for the quarter has remained unchanged during the last 30 days. And a inventory’s worth normally would not hold transferring increased within the absence of any pattern in earnings estimate revisions. So, be sure to keep watch over AUDC going ahead to see if this latest leap can flip into extra power down the street.
The inventory presently carries a Zacks Rank #2 (Purchase). You may see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
AudioCodes is a part of the Zacks Communication – Parts trade. Altice USA, Inc. (ATUS), one other inventory in the identical trade, closed the final buying and selling session 15.6% increased at $2.44. ATUS has returned 12.2% up to now month.
For Altice USA
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AudioCodes Ltd. (AUDC) : Free Stock Analysis Report
Altice USA, Inc. (ATUS) : Free Stock Analysis Report
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