Allot (NASDAQ:ALLT) Rating Lowered to “Hold” at Wall Street Zen

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

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a report on Wednesday, January 21st. TD Cowen set a $11.00 target price on shares of Allot in a research note on Wednesday. Northland Securities set a $18.00 price target on Allot in a research note on Tuesday, January 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Allot in a report on Thursday, February 19th. Finally, Zacks Research lowered Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Allot Stock Performance

Shares of ALLT stock opened at $6.34 on Friday. Allot has a fifty-two week low of $4.37 and a fifty-two week high of $11.92. The stock’s fifty day moving average price is $9.94 and its two-hundred day moving average price is $9.50. The company has a market cap of $307.17 million, a PE ratio of 79.26 and a beta of 1.62.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $28.40 million during the quarter, compared to analysts’ expectations of $27.90 million. Allot had a return on equity of 6.35% and a net margin of 3.63%. On average, equities analysts predict that Allot will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Allot

A number of institutional investors have recently made changes to their positions in the stock. QVT Financial LP raised its position in shares of Allot by 12.4% during the fourth quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after acquiring an additional 556,730 shares during the last quarter. Kanen Wealth Management LLC increased its position in Allot by 1.7% during the 3rd quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock valued at $48,624,000 after purchasing an additional 78,180 shares during the period. G2 Investment Partners Management LLC bought a new position in Allot during the 2nd quarter worth approximately $14,175,000. Renaissance Technologies LLC raised its holdings in Allot by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after purchasing an additional 106,740 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. lifted its position in shares of Allot by 12.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after purchasing an additional 97,348 shares during the period. 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.