Allot (NASDAQ:ALLT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Allot (NASDAQ:ALLT) in a report issued on Friday,Benzinga reports. They currently have a $12.50 price objective on the communications equipment provider’s stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Zacks Research lowered Allot from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. TD Cowen began coverage on Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 target price for the company. Cowen began coverage on Allot in a research note on Monday, October 20th. They set a “buy” rating on the stock. Finally, Wall Street Zen lowered Allot from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Allot Stock Up 7.4%

NASDAQ:ALLT traded up $0.64 during mid-day trading on Friday, reaching $9.31. 812,516 shares of the company were exchanged, compared to its average volume of 625,283. The stock has a market cap of $451.10 million, a PE ratio of -186.20 and a beta of 1.46. Allot has a 12 month low of $4.06 and a 12 month high of $11.42. The company has a fifty day moving average of $9.71 and a 200 day moving average of $8.71.

Institutional Investors Weigh In On Allot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC lifted its stake in Allot by 4.6% in the third quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after buying an additional 1,946 shares during the period. Magnetar Financial LLC raised its position in shares of Allot by 10.8% in the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock valued at $237,000 after acquiring an additional 2,192 shares during the period. Quarry LP bought a new position in Allot during the 3rd quarter worth approximately $37,000. FNY Investment Advisers LLC grew its holdings in Allot by 33.3% during the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 3,500 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Allot by 27.8% during the third quarter. Verition Fund Management LLC now owns 40,110 shares of the communications equipment provider’s stock valued at $424,000 after purchasing an additional 8,736 shares during the period. Institutional investors own 51.50% of the company’s stock.

Allot Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.