Allot Communications (NASDAQ:ALLT) Cut to Hold at Zacks Investment Research

Allot Communications (NASDAQ:ALLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Allot Ltd. is a provider of network intelligence and security solutions for service providers and enterprises. Allot Ltd., formerly known as ALLOT COMM LTD, is based in HOD HASHARON, Israel. “

Separately, Lake Street Capital boosted their target price on Allot Communications from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, June 8th.

Shares of NASDAQ ALLT traded up $0.40 during trading hours on Tuesday, reaching $14.88. 3,620 shares of the stock traded hands, compared to its average volume of 253,486. The company’s 50-day simple moving average is $16.84 and its two-hundred day simple moving average is $17.51. The company has a market capitalization of $526.50 million, a P/E ratio of -43.76 and a beta of 0.60. Allot Communications has a 52-week low of $8.46 and a 52-week high of $21.04.

Allot Communications (NASDAQ:ALLT) last announced its quarterly earnings results on Monday, August 9th. The communications equipment provider reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.05. The business had revenue of $35.29 million for the quarter. Allot Communications had a negative return on equity of 8.72% and a negative net margin of 8.56%. Analysts predict that Allot Communications will post -0.2 earnings per share for the current year.

A hedge fund recently bought a new stake in Allot Communications stock. Cowen Prime Advisors LLC purchased a new stake in shares of Allot Communications Ltd (NASDAQ:ALLT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,600 shares of the communications equipment provider’s stock, valued at approximately $309,000. 73.20% of the stock is owned by institutional investors.

About Allot Communications

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.

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