Allot (NASDAQ:ALLT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Allot (NASDAQ:ALLT) from a hold rating to a buy rating in a research note released on Saturday.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC raised their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. TD Cowen set a $11.00 price target on Allot in a research report on Wednesday, February 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of Allot in a research report on Wednesday. Finally, Zacks Research downgraded 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Allot Stock Performance

Allot stock opened at $7.13 on Friday. The stock has a fifty day moving average of $7.03 and a two-hundred day moving average of $8.69. The company has a market capitalization of $346.87 million, a price-to-earnings ratio of 54.85 and a beta of 1.46. Allot has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

Allot (NASDAQ:ALLT) last released its quarterly earnings results on Tuesday, May 12th. The communications equipment provider reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $26.43 million during the quarter, compared to the consensus estimate of $26.12 million. Allot had a return on equity of 7.38% and a net margin of 5.68%. On average, analysts forecast that Allot will post 0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Allot

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Allot during the third quarter worth $37,000. Kestra Advisory Services LLC acquired a new stake in shares of Allot during the fourth quarter worth $62,000. State of Wyoming acquired a new stake in shares of Allot during the fourth quarter worth $66,000. Wells Fargo & Company MN boosted its holdings in shares of Allot by 200.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot during the third quarter worth $108,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

Allot Company Profile

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.