Needham & Company LLC Lowers Allot (NASDAQ:ALLT) Price Target to $8.50

Allot (NASDAQ:ALLT) had its price target dropped by analysts at Needham & Company LLC from $12.50 to $8.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 23.01% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. TD Cowen set a $11.00 price target on shares of Allot in a research note on Wednesday. Northland Securities set a $18.00 target price on Allot in a research report on Tuesday, January 6th. Zacks Research cut Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Citigroup restated an “outperform” rating on shares of Allot in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Allot in a report on Thursday, February 19th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Allot Stock Down 29.6%

NASDAQ:ALLT opened at $6.91 on Thursday. The stock has a market cap of $334.79 million, a P/E ratio of 230.33 and a beta of 1.57. The firm’s fifty day simple moving average is $10.04 and its 200 day simple moving average is $9.51. Allot has a twelve month low of $4.37 and a twelve month high of $11.92.

Allot (NASDAQ:ALLT) last issued its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Allot had a return on equity of 4.54% and a net margin of 1.06%.The company had revenue of $28.40 million during the quarter, compared to the consensus estimate of $27.90 million. On average, analysts expect that Allot will post -0.18 EPS for the current fiscal year.

Institutional Trading of Allot

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. bought a new position in shares of Allot during the fourth quarter valued at $112,000. XTX Topco Ltd raised its position in Allot by 8.5% in the 4th quarter. XTX Topco Ltd now owns 34,536 shares of the communications equipment provider’s stock worth $339,000 after buying an additional 2,718 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Allot in the 4th quarter worth about $133,000. Trexquant Investment LP lifted its stake in Allot by 10.5% during the 4th quarter. Trexquant Investment LP now owns 259,325 shares of the communications equipment provider’s stock valued at $2,549,000 after acquiring an additional 24,715 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Allot by 24.8% during the 4th quarter. Osaic Holdings Inc. now owns 35,557 shares of the communications equipment provider’s stock valued at $350,000 after acquiring an additional 7,072 shares during the last quarter. Institutional investors own 51.50% of the company’s stock.

About Allot

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.