Allot Ltd. (NASDAQ:ALLT) Receives $13.13 Average Price Target from Analysts

Allot Ltd. (NASDAQ:ALLT) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $13.1250.

Several brokerages have recently weighed in on ALLT. Zacks Research lowered shares of Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Allot in a research report on Thursday, February 19th. Wall Street Zen cut shares of Allot from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Needham & Company LLC dropped their price objective on shares of Allot from $12.50 to $8.50 and set a “buy” rating for the company in a report on Thursday, February 26th.

Allot Stock Performance

Shares of Allot stock opened at $8.38 on Friday. The firm’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $8.74. Allot has a twelve month low of $6.12 and a twelve month high of $11.92. The firm has a market cap of $407.69 million, a P/E ratio of 104.76 and a beta of 1.46.

Allot (NASDAQ:ALLT) last issued its earnings results on Tuesday, May 12th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Allot had a net margin of 3.63% and a return on equity of 6.35%. The business had revenue of $26.43 million for the quarter, compared to analyst estimates of $26.12 million. On average, equities analysts forecast that Allot will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allot

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new position in Allot in the 2nd quarter valued at $2,225,000. Russell Investments Group Ltd. bought a new stake in shares of Allot during the second quarter worth $350,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Allot in the second quarter valued at $156,000. Walleye Capital LLC acquired a new stake in shares of Allot in the second quarter valued at $256,000. Finally, Marshall Wace LLP bought a new position in shares of Allot in the second quarter valued at about $2,320,000. 51.50% of the stock is owned by institutional investors and hedge funds.

Allot Company Profile

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.