Brokerages Set Allot Ltd. (NASDAQ:ALLT) PT at $13.00

Allot Ltd. (NASDAQ:ALLT) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.75.

Several brokerages have recently commented on ALLT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a research report on Friday. Cowen began coverage on shares of Allot in a research report on Monday. They set a “buy” rating on the stock. Wall Street Zen cut shares of Allot from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. Needham & Company LLC began coverage on shares of Allot in a research report on Thursday. They set a “buy” rating and a $12.50 price target on the stock. Finally, TD Cowen began coverage on shares of Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 price target on the stock.

Allot Price Performance

NASDAQ:ALLT opened at $10.12 on Monday. The firm has a 50-day moving average of $9.30 and a two-hundred day moving average of $8.22. The stock has a market cap of $470.88 million, a P/E ratio of -202.40 and a beta of 1.45. Allot has a 1-year low of $3.35 and a 1-year high of $11.42.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. The company had revenue of $24.05 million during the quarter, compared to analysts’ expectations of $22.90 million. As a group, equities analysts expect that Allot will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Allot

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kanen Wealth Management LLC raised its stake in Allot by 19.6% during the second quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider’s stock worth $38,713,000 after acquiring an additional 742,146 shares during the period. QVT Financial LP raised its stake in Allot by 22.2% during the second 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. G2 Investment Partners Management LLC acquired a new stake in Allot during the second quarter worth about $14,175,000. Acadian Asset Management LLC raised its stake in Allot by 12.5% during the second quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock worth $6,648,000 after acquiring an additional 86,437 shares during the period. Finally, Greenhaven Road Investment Management L.P. raised its stake in Allot by 272.0% during the second quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after acquiring an additional 457,726 shares during the period. Institutional investors and hedge funds own 51.50% of the company’s stock.

Allot Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.