Allot’s (ALLT) Overweight Rating Reiterated at Cantor Fitzgerald

Allot (NASDAQ:ALLT)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price target on the communications equipment provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 89.59% from the stock’s previous close.

A number of other research firms have also recently commented on ALLT. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. Needham & Company LLC lifted their price objective on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research cut Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen downgraded Allot from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, TD Cowen set a $11.00 price target on Allot in a research note on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allot has an average rating of “Moderate Buy” and a consensus target price of $13.63.

Allot Stock Performance

Shares of NASDAQ:ALLT opened at $7.91 on Wednesday. The company’s 50-day moving average is $7.01 and its 200 day moving average is $8.74. Allot has a fifty-two week low of $6.12 and a fifty-two week high of $11.92. The company has a market capitalization of $384.92 million, a P/E ratio of 105.46 and a beta of 1.46.

Allot (NASDAQ:ALLT) last released its quarterly earnings data on Tuesday, May 12th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $26.43 million for the quarter, compared to analyst estimates of $26.12 million. Allot had a return on equity of 6.35% and a net margin of 3.63%. As a group, research analysts predict that Allot will post 0.21 earnings per share for the current year.

Hedge Funds Weigh In On Allot

Large investors have recently added to or reduced their stakes in the business. QVT Financial LP increased its holdings in shares of Allot by 12.4% in the fourth quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after buying an additional 556,730 shares during the period. Kanen Wealth Management LLC increased its stake in Allot by 1.7% in the 3rd quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock worth $48,624,000 after purchasing an additional 78,180 shares during the period. Renaissance Technologies LLC lifted its position in Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its stake in shares of Allot by 12.8% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after purchasing an additional 97,348 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Allot by 239.4% in 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. Hedge funds and other 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.