Allot Ltd. (NASDAQ:ALLT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.50.

Several research firms have recently weighed in on ALLT. TD Cowen started coverage on Allot in a research report on Monday, October 20th. They issued a “buy” rating and a $13.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $12.50 price objective on shares of Allot in a report on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a report on Wednesday, October 8th. Cowen initiated coverage on shares of Allot in a research report on Monday, October 20th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded shares of Allot from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th.

Institutional Investors Weigh In On Allot

A number of large investors have recently made changes to their positions in ALLT. G2 Investment Partners Management LLC acquired a new stake in shares of Allot in the 2nd quarter worth $14,175,000. QVT Financial LP grew its holdings in shares of Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after purchasing an additional 817,938 shares during the period. Kanen Wealth Management LLC grew its holdings in shares of Allot by 19.6% in the second quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider’s stock valued at $38,713,000 after purchasing an additional 742,146 shares during the period. Millennium Management LLC increased its position in Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after purchasing an additional 531,412 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. raised its stake in Allot by 272.0% during the second quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after purchasing an additional 457,726 shares during the period. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

Allot Stock Up 0.9%

ALLT opened at $11.50 on Friday. The company has a market cap of $557.18 million, a PE ratio of 383.33 and a beta of 1.52. Allot has a twelve month low of $4.37 and a twelve month high of $11.92. The company has a 50-day moving average price of $9.43 and a 200 day moving average price of $9.07.

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.