Needham analyst Joshua Reilly maintained a Buy rating on Audiocodes today and set a price target of $12.50.
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Joshua Reilly has given his Buy rating due to a combination of factors, including Audiocodes’ solid first-quarter performance and steady demand for both its emerging AI-driven offerings and its traditional hardware portfolio. He sees the company progressing well toward its long-term goal of reaching $50 million in Voice AI revenue by 2028, supported by his newly introduced 2027 projections that imply a healthy growth trajectory from 2026.
Reilly also points to resilient demand from unified communications-as-a-service customers, highlighted by mid-single-digit growth at Microsoft and ongoing strength in relationships with major partners such as Microsoft, Zoom, and Cisco. In his view, the spending environment for the company’s AI solutions, including Agent Assist and related products, remains robust and in line with recent trends, reinforcing confidence in continued revenue expansion and justifying a Buy recommendation.