Zacks Investment Research Upgrades Allot Communications Ltd. (ALLT) to “Hold”
Allot Communications Ltd. (NASDAQ:ALLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Allot Communications Ltd. is a leading provider of intelligent IP service optimization solutions. Designed for carriers, service providers and enterprises, Allot solutions apply deep packet inspection technology to transform broadband pipes into smart networks. This creates the visibility and control vital to manage applications, services and subscribers, guarantee quality of service, contain operating costs and maximize revenue. Allot believes in listening to customers and provides them access to its global network of visionaries, innovators and support engineers. “
A number of other research firms have also issued reports on ALLT. ValuEngine lowered shares of Allot Communications from a “hold” rating to a “sell” rating in a research report on Thursday, May 18th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Allot Communications in a research report on Sunday, May 14th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.00.
Shares of Allot Communications (NASDAQ:ALLT) opened at 5.13 on Thursday. The company has a 50-day moving average of $5.03 and a 200-day moving average of $4.95. Allot Communications has a 12-month low of $4.50 and a 12-month high of $5.67. The stock’s market capitalization is $169.76 million.
Allot Communications (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, May 9th. The communications equipment provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. Allot Communications had a negative net margin of 10.23% and a negative return on equity of 4.28%. The firm had revenue of $18.50 million for the quarter, compared to analysts’ expectations of $19.62 million. During the same period in the prior year, the company posted ($0.06) earnings per share. Allot Communications’s quarterly revenue was down 19.2% compared to the same quarter last year. Equities analysts expect that Allot Communications will post ($0.21) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of ALLT. Soros Fund Management LLC raised its stake in Allot Communications by 2.4% in the first quarter. Soros Fund Management LLC now owns 3,406,666 shares of the communications equipment provider’s stock worth $16,216,000 after buying an additional 80,500 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in Allot Communications by 71.2% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,207,993 shares of the communications equipment provider’s stock worth $10,510,000 after buying an additional 918,397 shares during the period. Renaissance Technologies LLC raised its stake in Allot Communications by 1.3% in the first quarter. Renaissance Technologies LLC now owns 681,100 shares of the communications equipment provider’s stock worth $3,242,000 after buying an additional 8,600 shares during the period. S Squared Technology LLC bought a new stake in Allot Communications during the first quarter worth about $1,409,000. Finally, Horrell Capital Management Inc. raised its stake in Allot Communications by 64.3% in the second quarter. Horrell Capital Management Inc. now owns 271,100 shares of the communications equipment provider’s stock worth $1,385,000 after buying an additional 106,100 shares during the period. 42.04% of the stock is owned by institutional investors and hedge funds.
About Allot Communications
Allot Communications Ltd. (Allot) is a global provider of security and monetization solutions that enable mobile, fixed and enterprise service providers to protect and personalize the digital experience. The Company has a global and diverse customer base composed of mobile and fixed broadband service providers, cable operators, private networks, data centers, governments and enterprises, such as financial and educational institutions.
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