Zacks Research Downgrades Allot (NASDAQ:ALLT) to Hold

Allot (NASDAQ:ALLT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

ALLT has been the subject of several other research reports. Cantor Fitzgerald assumed coverage on Allot in a report on Monday, January 12th. They issued an “overweight” rating and a $15.00 price objective for the company. Northland Securities set a $18.00 price target on Allot in a research note on Tuesday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $12.50 price objective on shares of Allot in a research note on Tuesday. TD Cowen assumed coverage on shares of Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 target price for the company. Finally, Citigroup reaffirmed an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.63.

Allot Stock Performance

Shares of Allot stock opened at $10.31 on Monday. The company has a 50-day simple moving average of $9.70 and a two-hundred day simple moving average of $9.21. Allot has a 52-week low of $4.37 and a 52-week high of $11.92. The stock has a market capitalization of $499.52 million, a PE ratio of 343.67 and a beta of 1.52.

Hedge Funds Weigh In On Allot

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Allot during the 3rd quarter valued at about $37,000. Y Intercept Hong Kong Ltd bought a new stake in Allot in the third quarter worth $108,000. FNY Investment Advisers LLC boosted its stake in Allot by 33.3% during the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock worth $119,000 after buying an additional 3,500 shares during the period. LeConte Wealth Management LLC bought a new position in Allot during the third quarter valued at $128,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Allot in the second quarter valued at $139,000. 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.