Allot (NASDAQ:ALLT) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Allot (NASDAQ:ALLT) in a report issued on Wednesday,Benzinga reports. They currently have a $15.00 target price on the communications equipment provider’s stock.

Several other research analysts have also recently weighed in on the company. Needham & Company LLC boosted their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. TD Cowen set a $11.00 price target on Allot in a research note on Wednesday, February 25th. Wall Street Zen cut Allot from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Zacks Research cut Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.63.

Allot Price Performance

ALLT opened at $7.48 on Wednesday. The stock has a 50-day moving average price of $7.02 and a 200-day moving average price of $8.72. The firm has a market cap of $363.90 million, a PE ratio of 57.54 and a beta of 1.46. Allot has a 1 year low of $6.12 and a 1 year high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, May 12th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Allot had a return on equity of 7.51% and a net margin of 5.68%.The firm had revenue of $26.43 million during the quarter, compared to analysts’ expectations of $26.12 million. As a group, sell-side analysts anticipate that Allot will post 0.21 EPS for the current year.

Institutional Trading of Allot

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new position in shares of Allot in the third quarter worth about $37,000. Kestra Advisory Services LLC bought a new position in shares of Allot in the fourth quarter worth about $62,000. State of Wyoming bought a new position in shares of Allot in the fourth quarter worth about $66,000. Wells Fargo & Company MN boosted its stake in shares of Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock worth $88,000 after acquiring an additional 6,000 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Allot in the third quarter worth about $108,000. Hedge funds and other 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.