Allot (NASDAQ:ALLT) Raised to Buy at Wall Street Zen

Allot (NASDAQ:ALLT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts also recently issued reports on the company. Northland Securities set a $18.00 price target on Allot in a report on Tuesday, January 6th. Needham & Company LLC dropped their price objective on Allot from $12.50 to $8.50 and set a “buy” rating for the company in a report on Thursday, February 26th. TD Cowen set a $11.00 price objective on Allot in a research report on Wednesday, February 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of Allot in a research note on Thursday, February 19th. Finally, Citigroup restated an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Allot Price Performance

NASDAQ:ALLT opened at $7.44 on Friday. The firm has a market capitalization of $361.96 million, a P/E ratio of 93.01 and a beta of 1.52. The company has a fifty day moving average of $7.28 and a 200 day moving average of $8.90. Allot has a 52 week low of $5.61 and a 52 week high of $11.92.

Allot (NASDAQ:ALLT) last announced its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $28.39 million for the quarter, compared to analyst estimates of $27.90 million. Allot had a net margin of 3.63% and a return on equity of 6.35%. As a group, analysts anticipate that Allot will post 0.21 EPS for the current year.

Institutional Trading of Allot

Several large investors have recently bought and sold shares of ALLT. QVT Financial LP raised its position in shares of Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock worth $36,598,000 after acquiring an additional 817,938 shares in the last quarter. Millennium Management LLC boosted its position in shares of Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after purchasing an additional 531,412 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Allot in the second quarter worth $3,164,000. Potomac Capital Management Inc. purchased a new stake in Allot in the fourth quarter worth $3,483,000. Finally, Raiffeisen Bank International AG bought a new position in Allot in the third quarter worth $2,937,000. 51.50% of the stock is owned by institutional investors.

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.