Allot (NASDAQ:ALLT – Get Free Report) had its target price upped by equities research analysts at Needham & Company LLC from $8.50 to $10.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 25.30% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. TD Cowen set a $11.00 price target on shares of Allot in a research note on Wednesday, February 25th. Wall Street Zen cut shares of Allot from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Allot in a research note on Thursday, February 19th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and an average price target of $13.63.
View Our Latest Analysis on Allot
Allot Stock Up 6.6%
Allot (NASDAQ:ALLT – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The communications equipment provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Allot had a net margin of 3.63% and a return on equity of 6.35%. The firm had revenue of $26.43 million during the quarter, compared to analysts’ expectations of $26.12 million. On average, analysts expect that Allot will post 0.21 earnings per share for the current year.
Institutional Investors Weigh In On Allot
Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Allot in the 3rd quarter valued at about $37,000. Kestra Advisory Services LLC purchased a new stake in Allot in the 4th quarter valued at about $62,000. State of Wyoming purchased a new stake in Allot in the 4th quarter valued at about $66,000. Wells Fargo & Company MN boosted its position in Allot by 200.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 6,000 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Allot in the 3rd quarter valued at about $108,000. 51.50% of the stock is owned by hedge funds and other institutional investors.
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.
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