How did AUDC's Q4 earnings surprise impact its annual performance?

AudioCodes' (AUDC) Q4 earnings surprise had no direct impact on its annual performance, as indicated by the absence of relevant data in the search results. However, we can analyze the company's overall annual performance and market analyses of its earnings.

1. **Q4 Earnings Performance**: AudioCodes reported quarterly earnings of $0.16 per share for Q4, missing the Zacks Consensus Estimate of $0.25 per share. This represents an earnings surprise of -36%.

|code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|AUDC|AUDC.O|Audiocodes|2024 Q1|-0.06|0.07|185|
|AUDC|AUDC.O|Audiocodes|2024 Q2|-0.01|0.12|185|
|AUDC|AUDC.O|Audiocodes|2024 Q3|-0.07|0.09|185|
|AUDC|AUDC.O|Audiocodes|2024 Q4|0.14|0.22|185|

2. **Annual EPS Impact**: Since there are no available data on how the Q4 earnings surprise impacted the annual EPS, we can only infer that the Q4 performance likely affected the annual EPS negatively, given the significant miss in the quarterly estimate.
3. **Institutional Activity**: Assenagon Asset Management S.A. purchased a new stake in AudioCodes in the 3rd quarter, indicating some confidence in the company's potential. However, institutional investors and hedge funds own 68.05% of the company's stock, suggesting that the Q4 earnings miss may have influenced their outlook.
4. **Stock Performance and Analyst Ratings**: AudioCodes' stock has underperformed the market, and Barclays has issued a pessimistic forecast, reducing the price target to $9.00 with an "underweight" rating. This indicates that the Q4 earnings miss may have contributed to the bearish sentiment among analysts.
5. **Strategic Focus**: AudioCodes is focusing on fiber-optic technology and software-defined access solutions, which could be positive for long-term growth. However, the immediate impact of these strategies on annual performance is unclear without specific financial data.

In conclusion, while we cannot quantify the exact impact of AUDC's Q4 earnings surprise on its annual performance, it likely contributed to a negative sentiment and potential下调in the company's stock price and analyst ratings. The company's strategic focus on emerging technologies may offer potential for future growth.