AUDC - AudioCodes: Assessing If Upcoming Q4 Earnings Can Confirm A Fresh Bull-Market (Technical Analysis)
2024-02-04 00:38:01 ET
Summary
- AudioCodes' Q3 earnings beat expectations, driven by conversational AI offerings and higher-margin software solutions.
- Investors are anticipating robust Q4 numbers & associated trends, which have the potential to attract buyers on the long side.
- Key factors to watch include the growth rate of live subscriptions and the success of the Conversational AI business.
Intro
We wrote about AudioCodes Ltd. ( AUDC ) in November of last year after the company's Q3 earnings numbers when we were contemplating an investment in the company on the long side. GAAP earnings of $0.14 per share in Q3 beat the consensus estimate by $0.05 per share as the company's conversational AI offerings & higher margin software solutions remained to the fore. Furthermore, the stock's technicals were demonstrating a bullish bias in both the long-term & near-term charts. Although we did not pull the trigger on the long side (as we needed more bullish confirmation), we were not surprised to see the stock has rallied over 13% over the past 2.5 months. All eyes now are on AudioCodes' upcoming Q4 numbers which have the potential to aggressively bring buyers in on the long side here....
AudioCodes: Assessing If Upcoming Q4 Earnings Can Confirm A Fresh Bull-Market (Technical Analysis)