Audience (NASDAQ:ADNC) was downgraded by equities researchers at Chardan Capital from a “buy” rating to a “neutral” rating in a research report issued on Friday, Analyst Ratings Network reports. They currently have a $9.00 price objective on the stock, down from their previous price objective of $13.00. Chardan Capital’s target price points to a potential downside of 12.11% from the stock’s previous close.
Audience (NASDAQ:ADNC) traded down 18.67% on Friday, hitting $10.24. Audience has a 52-week low of $5.51 and a 52-week high of $19.94. The stock’s 50-day moving average is currently $13.02. The company has a market cap of $215.6 million and a price-to-earnings ratio of 18.19.
Audience (NASDAQ:ADNC) last announced its earnings results on Thursday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.08. The company had revenue of $45.30 million for the quarter, compared to the consensus estimate of $44.94 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. On average, analysts predict that Audience will post $0.68 earnings per share for the current fiscal year.
ADNC has been the subject of a number of other recent research reports. Analysts at TheStreet initiated coverage on shares of Audience in a research note to investors on Wednesday, June 12th. They set a “hold” rating on the stock. Separately, analysts at Credit Suisse reiterated a “hold” rating on shares of Audience in a research note to investors on Wednesday, June 5th. They now have a $16.00 price target on the stock. Finally, analysts at Benchmark Co. initiated coverage on shares of Audience in a research note to investors on Wednesday, June 5th. They set a “hold” rating and a $15.00 price target on the stock.
Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.00.
Audience, Inc, is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.