Needham & Company LLC Issues Pessimistic Forecast for Allot (NASDAQ:ALLT) Stock Price

Allot (NASDAQ:ALLT) had its target price reduced by Needham & Company LLC from $12.50 to $8.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 23.01% from the stock’s previous close.

A number of other research firms also recently issued reports on ALLT. Northland Securities set a $18.00 price target on Allot in a research note on Tuesday, January 6th. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Citigroup reaffirmed an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Allot in a research report on Thursday, February 19th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Allot Trading Down 29.6%

Shares of ALLT opened at $6.91 on Thursday. The firm has a fifty day simple moving average of $10.04 and a two-hundred day simple moving average of $9.51. The firm has a market cap of $334.79 million, a PE ratio of 230.33 and a beta of 1.57. Allot has a 1-year low of $4.37 and a 1-year high of $11.92.

Allot (NASDAQ:ALLT) last issued its quarterly earnings data on Wednesday, February 25th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $28.40 million during the quarter, compared to the consensus estimate of $27.90 million. Allot had a return on equity of 4.54% and a net margin of 1.06%. As a group, research analysts forecast that Allot will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Allot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenhaven Road Investment Management L.P. increased its stake in shares of Allot by 272.0% in the second quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after purchasing an additional 457,726 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in shares of Allot during the 2nd quarter valued at $14,175,000. Calamos Advisors LLC bought a new position in Allot in the 2nd quarter worth $254,000. Raiffeisen Bank International AG purchased a new stake in Allot in the 3rd quarter worth $2,937,000. Finally, Acadian Asset Management LLC increased its stake in Allot by 12.5% in the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock worth $6,648,000 after buying an additional 86,437 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.