Allot’s (ALLT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Allot (NASDAQ:ALLT) in a research note issued to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $12.50 target price on the communications equipment provider’s stock.

Several other research firms also recently weighed in on ALLT. Zacks Research raised shares of Allot from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, October 8th. TD Cowen assumed coverage on shares of Allot in a report on Monday, October 20th. They issued a “buy” rating for the company. Citigroup reiterated an “outperform” rating on shares of Allot in a research note on Tuesday, January 6th. Finally, Cantor Fitzgerald initiated coverage on Allot in a report on Monday, January 12th. They set an “overweight” rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.63.

Allot Stock Performance

Shares of ALLT stock opened at $10.61 on Tuesday. Allot has a 1 year low of $4.37 and a 1 year high of $11.92. The firm has a market capitalization of $514.05 million, a PE ratio of 353.67 and a beta of 1.52. The stock has a fifty day moving average of $9.76 and a two-hundred day moving average of $9.22.

Institutional Investors Weigh In On Allot

Large investors have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. raised its holdings in Allot by 272.0% during the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after buying an additional 457,726 shares during the period. G2 Investment Partners Management LLC purchased a new position in shares of Allot in the second quarter worth approximately $14,175,000. Kanen Wealth Management LLC increased its position 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 worth $38,713,000 after acquiring an additional 742,146 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of Allot during the second quarter valued at approximately $254,000. Finally, Acadian Asset Management LLC lifted its position in shares of Allot by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock valued at $6,648,000 after acquiring an additional 86,437 shares in the last quarter. 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.