Allot (NASDAQ:ALLT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Allot Ltd. (NASDAQ:ALLT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.54 and traded as high as $7.85. Allot shares last traded at $7.71, with a volume of 234,469 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALLT. Northland Securities set a $17.00 target price on shares of Allot in a report on Thursday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Needham & Company LLC raised their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Allot Stock Performance

The stock has a market capitalization of $363.42 million, a price-to-earnings ratio of 33.96 and a beta of 1.50. The company’s 50 day moving average is $7.89 and its 200 day moving average is $7.52.

Allot (NASDAQ:ALLT) last issued 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. Allot had a net margin of 9.40% and a return on equity of 9.64%. The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. On average, equities research analysts anticipate that Allot Ltd. will post 0.23 earnings per share for the current fiscal year.

Allot announced that its board has authorized a stock buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Allot news, CEO Eyal Harari sold 29,111 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $7.64, for a total value of $222,408.04. Following the completion of the transaction, the chief executive officer owned 1,099,118 shares of the company’s stock, valued at $8,397,261.52. This represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Boaz Grossman sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $7.80, for a total value of $31,200.00. Following the sale, the senior vice president owned 182,000 shares in the company, valued at approximately $1,419,600. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,333 shares of company stock valued at $527,240 over the last three months. 3.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allot

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its position in Allot by 36.0% during the 2nd quarter. Squarepoint Ops LLC now owns 14,775 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 3,908 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Allot by 24.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock valued at $857,000 after buying an additional 19,013 shares during the period. Kanen Wealth Management LLC grew its holdings in 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 acquiring an additional 51,029 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Allot during the 1st quarter valued at $1,208,000. Finally, Sei Investments Co. lifted its stake in shares of Allot by 744.0% in the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after purchasing an additional 461,175 shares during the period. Institutional investors and hedge funds 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.