Allot (NASDAQ:ALLT) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Allot (NASDAQ:ALLT) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities analysts have also issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Northland Securities set a $18.00 target price on Allot in a research report on Tuesday, January 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Allot in a research report on Thursday, February 19th. Needham & Company LLC cut their price objective on Allot from $12.50 to $8.50 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Citigroup reiterated an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Allot Trading Up 4.3%

Allot stock opened at $7.44 on Friday. The firm has a market capitalization of $361.96 million, a P/E ratio of 93.01 and a beta of 1.52. Allot has a 1 year low of $5.61 and a 1 year high of $11.92. The business has a 50-day moving average of $7.28 and a 200-day moving average of $8.91.

Allot (NASDAQ:ALLT) last posted its earnings results on Wednesday, February 25th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $28.39 million during the quarter, compared to analyst estimates of $27.90 million. Allot had a return on equity of 6.35% and a net margin of 3.63%. Research analysts anticipate that Allot will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Allot

Several institutional investors have recently modified their holdings of the business. QVT Financial LP lifted its holdings in shares of Allot by 12.4% during the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after purchasing an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC lifted its holdings in shares of Allot by 1.7% during the 3rd quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock valued at $48,624,000 after purchasing an additional 78,180 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Allot by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares in the last quarter. Greenhaven Road Investment Management L.P. lifted its holdings in shares of Allot by 12.8% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after purchasing an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after acquiring an additional 531,412 shares in the last quarter. Institutional investors own 51.50% of the company’s stock.

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.