Allot Ltd. (NASDAQ:ALLT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Allot Ltd. (NASDAQ:ALLT) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.3750.

A number of equities research analysts recently commented on the company. Northland Securities set a $17.00 price objective on Allot in a research note on Thursday, August 13th. Needham & Company LLC boosted their price objective on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th.

Allot Trading Up 0.4%

Shares of ALLT stock opened at $7.48 on Friday. Allot has a 1 year low of $6.12 and a 1 year high of $11.92. The firm’s 50 day moving average is $7.88 and its 200-day moving average is $7.75. The firm has a market capitalization of $363.90 million, a price-to-earnings ratio of 34.00 and a beta of 1.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Allot had a net margin of 9.40% and a return on equity of 9.64%. The business had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. On average, equities research analysts forecast that Allot will post 0.23 earnings per share for the current fiscal year.

Allot announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 23rd that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Allot

In related news, insider Gili Groner sold 26,666 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total transaction of $209,594.76. Following the completion of the transaction, the insider directly owned 59,467 shares in the company, valued at approximately $467,410.62. This trade represents a 30.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Noam Lelah sold 21,000 shares of Allot stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the sale, the senior vice president directly owned 176,250 shares in the company, valued at approximately $1,494,600. This represents a 10.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,333 shares of company stock valued at $629,420 over the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Allot

Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in Allot in the third quarter valued at $37,000. Kestra Advisory Services LLC bought a new position in shares of Allot in the 4th quarter valued at about $62,000. State of Wyoming bought a new stake in Allot during the fourth quarter worth about $66,000. Wells Fargo & Company MN boosted its position in Allot by 200.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Allot in the 4th quarter valued at approximately $112,000. 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.