Allot Ltd. (NASDAQ:ALLT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Allot Ltd. (NASDAQ:ALLTGet Free Report) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.3750.

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective on shares of Allot in a research report on Wednesday, May 13th. Northland Securities set a $17.00 target price on Allot in a research report on Thursday, August 13th. Needham & Company LLC lifted their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th.

View Our Latest Stock Report on Allot

Insider Activity

In related news, CEO Eyal Harari sold 29,111 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $7.64, for a total value of $222,408.04. Following the sale, the chief executive officer owned 1,099,118 shares of the company’s stock, valued at $8,397,261.52. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Boaz Grossman sold 6,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $7.45, for a total value of $44,700.00. Following the completion of the sale, the senior vice president owned 186,000 shares of the company’s stock, valued at $1,385,700. The trade was a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 68,333 shares of company stock valued at $527,240. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Allot

A number of institutional investors have recently made changes to their positions in ALLT. Worth Venture Partners LLC grew its position in shares of Allot by 4.6% in the 3rd 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. DCF Advisers LLC lifted its stake in shares of Allot by 2.9% in the fourth quarter. DCF Advisers LLC now owns 72,000 shares of the communications equipment provider’s stock worth $708,000 after acquiring an additional 2,000 shares during the period. Magnetar Financial LLC lifted its stake in shares of Allot by 10.8% in the third quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock worth $237,000 after acquiring an additional 2,192 shares during the period. XTX Topco Ltd boosted its holdings in Allot by 8.5% in the fourth quarter. XTX Topco Ltd now owns 34,536 shares of the communications equipment provider’s stock valued at $339,000 after acquiring an additional 2,718 shares during the last quarter. Finally, Quarry LP bought a new stake in Allot in the third quarter valued at approximately $37,000. Institutional investors own 51.50% of the company’s stock.

Allot Price Performance

Shares of NASDAQ:ALLT opened at $7.52 on Thursday. Allot has a one year low of $6.12 and a one year high of $11.92. The company has a market cap of $365.85 million, a price-to-earnings ratio of 34.18 and a beta of 1.50. The firm has a 50 day simple moving average of $7.89 and a 200 day simple moving average of $7.52.

Allot (NASDAQ:ALLTGet Free Report) last announced its quarterly earnings results on Thursday, August 13th. 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 during the quarter, compared to the consensus estimate of $27.45 million. As a group, analysts expect that Allot will post 0.23 EPS for the current year.

Allot declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 23rd that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

About Allot

(Get Free Report)

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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Analyst Recommendations for Allot (NASDAQ:ALLT)

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