Allot (NASDAQ:ALLT) Receives “Buy” Rating from Needham & Company LLC

Allot (NASDAQ:ALLT)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $12.50 target price on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 19.50% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Zacks Research raised shares of Allot from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Northland Securities set a $18.00 target price on shares of Allot in a research note on Tuesday, January 6th. Cantor Fitzgerald initiated coverage on shares of Allot in a research report on Monday, January 12th. They issued an “overweight” rating and a $15.00 price target on the stock. Finally, Citigroup reaffirmed an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.63.

Allot Stock Performance

Shares of ALLT opened at $10.46 on Tuesday. Allot has a one year low of $4.37 and a one year high of $11.92. The stock has a 50-day moving average price of $9.67 and a 200 day moving average price of $9.19. The company has a market capitalization of $506.79 million, a P/E ratio of 348.67 and a beta of 1.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Worth Venture Partners LLC raised its holdings in shares of Allot by 4.6% during the third quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after buying an additional 1,946 shares during the last quarter. Magnetar Financial LLC increased its position in Allot by 10.8% in the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock valued at $237,000 after acquiring an additional 2,192 shares during the period. Quarry LP bought a new stake in Allot during the 3rd quarter valued at $37,000. FNY Investment Advisers LLC boosted its position in Allot by 33.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock worth $119,000 after acquiring an additional 3,500 shares during the period. Finally, Silverberg Bernstein Capital Management LLC grew its stake in shares of Allot by 2.7% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 165,428 shares of the communications equipment provider’s stock worth $1,626,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors own 51.50% of the company’s stock.

About Allot

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.