Allot Ltd. (NASDAQ:ALLT) Given Average Recommendation of “Moderate Buy” by Brokerages

Allot Ltd. (NASDAQ:ALLT) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.1250.

A number of research firms recently weighed in on ALLT. Needham & Company LLC decreased their target price on Allot from $12.50 to $8.50 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Zacks Research downgraded Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Wall Street Zen lowered Allot from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. TD Cowen set a $11.00 price objective on Allot in a research report on Wednesday, February 25th. Finally, Citigroup restated an “outperform” rating on shares of Allot in a research note on Tuesday, January 6th.

Allot Stock Up 5.0%

Shares of ALLT stock opened at $6.71 on Thursday. Allot has a 12 month low of $4.37 and a 12 month high of $11.92. The firm has a market cap of $325.10 million, a PE ratio of 83.89 and a beta of 1.62. The stock has a 50 day moving average of $8.87 and a 200-day moving average of $9.39.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Allot had a net margin of 3.63% and a return on equity of 6.35%. The business had revenue of $28.40 million for the quarter, compared to the consensus estimate of $27.90 million. As a group, equities analysts predict that Allot will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Allot

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLT. QVT Financial LP raised its position in Allot by 12.4% in the fourth quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after purchasing an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC boosted its holdings in Allot by 1.7% during the third quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock valued at $48,624,000 after purchasing an additional 78,180 shares in the last quarter. G2 Investment Partners Management LLC acquired a new stake in Allot during the second quarter valued at approximately $14,175,000. Renaissance Technologies LLC grew its stake in shares of Allot by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares during the period. Finally, Greenhaven Road Investment Management L.P. grew its stake in shares of Allot by 12.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after purchasing an additional 97,348 shares during the period. 51.50% of the stock is owned by institutional investors.

Allot Company Profile

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.