Allot (NASDAQ:ALLT) Hits New 52-Week High – What’s Next?

Shares of Allot Ltd. (NASDAQ:ALLT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.57 and last traded at $11.4780, with a volume of 53150 shares. The stock had previously closed at $11.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALLT. Cowen started coverage on shares of Allot in a research report on Monday, October 20th. They issued a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $12.50 target price on shares of Allot in a research note on Friday, November 21st. TD Cowen started coverage on Allot in a research note on Monday, October 20th. They set a “buy” rating and a $13.00 price target on the stock. Zacks Research upgraded Allot from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Finally, Citigroup reissued an “outperform” rating on shares of Allot in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Allot Stock Performance

The company has a 50-day moving average price of $9.46 and a 200-day moving average price of $9.08. The firm has a market capitalization of $526.17 million, a P/E ratio of 362.00 and a beta of 1.52.

Institutional Trading of Allot

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Allot in the 3rd quarter valued at approximately $37,000. Y Intercept Hong Kong Ltd bought a new stake in Allot in the third quarter valued at approximately $108,000. FNY Investment Advisers LLC raised its holdings in 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 purchasing an additional 3,500 shares during the period. LeConte Wealth Management LLC bought a new position in shares of Allot during the third quarter worth $128,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Allot during the second quarter worth $139,000. 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.