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

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $13.1250.

A number of research firms recently weighed in on ALLT. Needham & Company LLC dropped their price objective on shares of Allot from $12.50 to $8.50 and set a “buy” rating on the stock in a report on Thursday, February 26th. TD Cowen set a $11.00 price objective on shares of Allot in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a report on Wednesday, January 21st. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Allot in a report on Thursday, February 19th.

Institutional Trading of Allot

A number of institutional investors have recently made changes to their positions in ALLT. QVT Financial LP lifted its stake in shares of Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock worth $36,598,000 after acquiring an additional 817,938 shares during the period. Millennium Management LLC lifted its stake in shares of Allot by 239.4% in the 3rd 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 period. Boothbay Fund Management LLC acquired a new stake in shares of Allot in the 2nd quarter worth approximately $3,164,000. Potomac Capital Management Inc. bought a new position in Allot during the fourth quarter valued at about $3,483,000. Finally, Raiffeisen Bank International AG bought a new position in Allot during the third quarter valued at about $2,937,000. 51.50% of the stock is owned by institutional investors and hedge funds.

Allot Stock Down 1.4%

ALLT stock opened at $7.65 on Friday. Allot has a fifty-two week low of $5.78 and a fifty-two week high of $11.92. The firm’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $8.77. The stock has a market cap of $372.17 million, a PE ratio of 95.64 and a beta of 1.46.

Allot (NASDAQ:ALLT) last released its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Allot had a net margin of 3.63% and a return on equity of 6.35%. The business had revenue of $28.39 million for the quarter, compared to analysts’ expectations of $27.90 million. Equities analysts forecast that Allot will post 0.21 EPS for the current fiscal year.

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.