Allot Ltd. (NASDAQ:ALLT) Stock Has Average Target Price of $13.38

Allot Ltd. (NASDAQ:ALLT) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.38.

Several brokerages have recently weighed in on ALLT. Northland Securities set a $17.00 price target on Allot in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd.

Insider Buying and Selling

In other news, SVP Boaz Grossman sold 6,000 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $7.45, for a total value of $44,700.00. Following the completion of the transaction, the senior vice president owned 186,000 shares in the company, valued at $1,385,700. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eyal Harari sold 29,111 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $7.64, for a total value of $222,408.04. Following the transaction, the chief executive officer directly owned 1,099,118 shares in the company, valued at approximately $8,397,261.52. The trade was a 2.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,333 shares of company stock worth $512,240 in the last three months. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Allot

Several large investors have recently bought and sold shares of the business. DCF Advisers LLC boosted its holdings in Allot by 2.9% in the fourth quarter. DCF Advisers LLC now owns 72,000 shares of the communications equipment provider’s stock worth $708,000 after purchasing an additional 2,000 shares during the last quarter. Squarepoint Ops LLC raised its stake in Allot by 36.0% during the 2nd quarter. Squarepoint Ops LLC now owns 14,775 shares of the communications equipment provider’s stock valued at $131,000 after buying an additional 3,908 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its holdings in shares of Allot by 5.7% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock valued at $1,165,000 after buying an additional 9,450 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Allot by 24.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock valued at $857,000 after buying an additional 19,013 shares during the period. Finally, Kanen Wealth Management LLC boosted its stake in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after buying an additional 51,029 shares during the last quarter. 51.50% of the stock is currently owned by institutional investors.

Allot Stock Down 2.5%

Shares of ALLT opened at $8.13 on Monday. The stock has a market cap of $400.81 million, a P/E ratio of 36.96 and a beta of 1.48. The business’s 50 day moving average price is $7.91 and its 200-day moving average price is $7.66. Allot has a 52 week low of $6.12 and a 52 week high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%.The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. On average, equities analysts anticipate that Allot will post 0.23 EPS for the current year.

Allot announced that its Board of Directors has authorized a stock buyback plan on Tuesday, June 23rd that permits the company to buyback $40.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Allot

Allot Ltd. is a telecommunications technology company that provides network intelligence, traffic management and cybersecurity solutions to communications service providers. Its software and hardware help operators monitor network traffic, analyze subscriber and application usage, optimize performance and manage service quality across fixed, mobile and broadband networks.

The company’s portfolio has included network visibility and analytics tools, policy and traffic-management platforms, and security products designed to help detect and mitigate threats such as distributed denial-of-service attacks.