Allot Ltd. (NASDAQ:ALLT) Stock Has Average Price Target of $13.38 According to Brokerages

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.38.

ALLT has been the topic of several research analyst reports. Northland Securities set a $17.00 price objective on Allot in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd.

Allot Stock Up 3.8%

Shares of Allot stock opened at $8.39 on Monday. The company has a market cap of $413.63 million, a PE ratio of 38.14 and a beta of 1.48. The business has a 50 day moving average price of $7.94 and a 200-day moving average price of $7.68. Allot has a 52 week low of $6.12 and a 52 week high of $11.92.

Allot (NASDAQ:ALLT) last released its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $27.74 million for the quarter, compared to analyst estimates of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. As a group, research analysts anticipate that Allot will post 0.23 EPS for the current year.

Allot declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 23rd that permits the company to buy back $40.00 million in shares. This repurchase authorization permits the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Allot

In other news, SVP Boaz Grossman sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $7.80, for a total value of $31,200.00. Following the completion of the sale, the senior vice president directly owned 182,000 shares of the company’s stock, valued at approximately $1,419,600. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eyal Harari sold 29,111 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,099,118 shares of the company’s stock, valued at approximately $8,397,261.52. This trade represents a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 66,333 shares of company stock worth $512,240. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. QVT Financial LP lifted its stake in shares of Allot by 12.4% in 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 during the last quarter. Kanen Wealth Management LLC lifted its stake in shares of Allot by 1.1% during the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares during the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in Allot by 12.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after purchasing an additional 97,348 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after buying an additional 461,175 shares during the period. Finally, Potomac Capital Management Inc. purchased a new position in shares of Allot in the fourth quarter worth about $3,483,000. Institutional investors own 51.50% of the company’s stock.

Allot Company Profile

Allot Ltd. is a telecommunications technology company that provides network intelligence, traffic management and cybersecurity solutions to communications service providers. Its software and hardware help operators monitor network traffic, analyze subscriber and application usage, optimize performance and manage service quality across fixed, mobile and broadband networks.

The company’s portfolio has included network visibility and analytics tools, policy and traffic-management platforms, and security products designed to help detect and mitigate threats such as distributed denial-of-service attacks.