Allot (NASDAQ:ALLT) Stock Rating Lowered by Zacks Research

Allot (NASDAQ:ALLT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Allot in a research report on Monday, January 12th. They set an “overweight” rating and a $15.00 target price on the stock. TD Cowen started coverage on shares of Allot in a research note on Monday, October 20th. They issued a “buy” rating and a $13.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $12.50 price objective on shares of Allot in a report on Tuesday. Northland Securities set a $18.00 price objective on shares of Allot in a research report on Tuesday, January 6th. Finally, Cowen initiated coverage on Allot in a research report on Monday, October 20th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Allot has a consensus rating of “Moderate Buy” and an average target price of $14.63.

Allot Stock Performance

Shares of ALLT opened at $10.31 on Monday. The firm has a market cap of $499.52 million, a PE ratio of 343.67 and a beta of 1.52. Allot has a 52-week low of $4.37 and a 52-week high of $11.92. The business’s 50 day moving average price is $9.70 and its two-hundred day moving average price is $9.21.

Institutional Investors Weigh In On Allot

Several hedge funds and other institutional investors have recently made changes to their positions in ALLT. Greenhaven Road Investment Management L.P. lifted its position in Allot by 272.0% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock valued at $5,353,000 after acquiring an additional 457,726 shares in the last quarter. G2 Investment Partners Management LLC bought a new stake in Allot during the 2nd quarter worth approximately $14,175,000. Calamos Advisors LLC purchased a new stake in shares of Allot in the second quarter worth approximately $254,000. Acadian Asset Management LLC lifted its holdings in shares of Allot by 12.5% in the second quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock valued at $6,648,000 after purchasing an additional 86,437 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new position in shares of Allot during the second quarter valued at approximately $359,000. 51.50% of the stock is owned by institutional investors.

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.