Allot (NASDAQ:ALLT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Allot (NASDAQ:ALLT) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. TD Cowen began coverage on shares of Allot in a research note on Monday, October 20th. They set a “buy” rating and a $13.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $12.50 price target on shares of Allot in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a report on Wednesday, October 8th. 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 downgraded shares of Allot from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allot presently has an average rating of “Moderate Buy” and a consensus target price of $12.75.

Allot Trading Down 2.2%

NASDAQ:ALLT opened at $9.44 on Tuesday. The firm has a 50-day moving average price of $9.72 and a two-hundred day moving average price of $8.81. Allot has a twelve month low of $4.33 and a twelve month high of $11.42. The company has a market capitalization of $457.40 million, a P/E ratio of -188.80 and a beta of 1.46.

Hedge Funds Weigh In On Allot

Large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Allot in the 3rd quarter valued at about $37,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Allot during the 3rd quarter worth about $108,000. FNY Investment Advisers LLC boosted its position in shares of Allot by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock worth $119,000 after acquiring an additional 3,500 shares during the last quarter. LeConte Wealth Management LLC purchased a new stake in Allot in the third quarter valued at approximately $128,000. Finally, DCF Advisers LLC acquired a new position in Allot during the first quarter worth approximately $138,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

About Allot

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.