Allot Ltd. (NASDAQ:ALLT – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.3750.
Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Northland Securities set a $17.00 price target on Allot in a research note on Thursday. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of Allot in a research report on Wednesday, May 13th. Finally, Needham & Company LLC lifted their price objective on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th.
Read Our Latest Report on ALLT
Allot Price Performance
Allot (NASDAQ:ALLT – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Allot had a net margin of 9.40% and a return on equity of 9.64%. The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Analysts expect that Allot will post 0.24 earnings per share for the current fiscal year.
Allot declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 23rd that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Insider Transactions at Allot
In other Allot news, insider Mark Shteiman sold 6,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total value of $45,480.00. Following the sale, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eyal David Harari sold 29,111 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $7.64, for a total transaction of $222,408.04. Following the completion of the transaction, the chief executive officer owned 1,099,118 shares of the company’s stock, valued at approximately $8,397,261.52. This represents a 2.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 76,667 shares of company stock valued at $597,095 in the last ninety days. 3.40% of the stock is owned by company insiders.
Institutional Trading of Allot
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Allot during the 2nd quarter valued at about $2,225,000. Russell Investments Group Ltd. acquired a new position in Allot in the second quarter worth about $350,000. Arrowstreet Capital Limited Partnership acquired a new position in Allot in the second quarter worth about $156,000. Walleye Capital LLC bought a new position in Allot during the second quarter worth about $256,000. Finally, Marshall Wace LLP bought a new position in Allot during the second quarter worth about $2,320,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.
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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