Allot Ltd. (NASDAQ:ALLT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Allot Ltd. (NASDAQ:ALLT) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.6250.

Several research firms have recently commented on ALLT. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Needham & Company LLC raised their price objective on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of Allot in a report on Wednesday, May 13th.

Insider Transactions at Allot

In related news, SVP Boaz Grossman sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the transaction, the senior vice president owned 192,000 shares in the company, valued at $1,415,040. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Shteiman sold 6,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total transaction of $45,480.00. Following the sale, the insider directly owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,556 shares of company stock valued at $374,464 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Allot

Several hedge funds and other institutional investors have recently made changes to their positions in ALLT. QVT Financial LP grew its stake in Allot by 12.4% during the 4th 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 last quarter. Kanen Wealth Management LLC raised its stake in Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after buying an additional 51,029 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 worth $11,009,000 after acquiring an additional 106,740 shares in the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in Allot by 12.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after acquiring an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after acquiring an additional 531,412 shares during the last quarter. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Allot Stock Performance

Shares of ALLT opened at $8.08 on Wednesday. The company has a 50 day moving average price of $7.82 and a 200-day moving average price of $8.19. Allot has a fifty-two week low of $6.12 and a fifty-two week high of $11.92. The stock has a market capitalization of $393.09 million, a PE ratio of 62.16 and a beta of 1.46.

Allot (NASDAQ:ALLT) last issued its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. The company had revenue of $26.43 million during the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. Equities research analysts forecast that Allot will post 0.21 EPS for the current year.

Allot announced that its board has authorized a share repurchase plan on Tuesday, June 23rd that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.