Allot (NASDAQ:ALLT) Research Coverage Started at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Allot (NASDAQ:ALLT) in a research report released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $12.50 price objective on the communications equipment provider’s stock.

Several other equities analysts also recently issued reports on ALLT. TD Cowen started coverage on shares of Allot in a research note on Monday, October 20th. They set a “buy” rating and a $13.00 price objective on the stock. William Blair started coverage on Allot in a research note on Thursday, August 21st. They set an “outperform” rating on the stock. Wall Street Zen lowered Allot from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.75.

Allot Stock Up 1.4%

Shares of NASDAQ:ALLT opened at $10.12 on Thursday. Allot has a 52-week low of $3.35 and a 52-week high of $11.42. The stock’s fifty day simple moving average is $9.30 and its 200-day simple moving average is $8.24. The company has a market capitalization of $470.88 million, a P/E ratio of -202.40 and a beta of 1.45.

Allot (NASDAQ:ALLT) last released its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $24.05 million for the quarter, compared to analyst estimates of $22.90 million. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. On average, sell-side analysts anticipate that Allot will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Allot

A number of hedge funds have recently made changes to their positions in ALLT. G2 Investment Partners Management LLC purchased a new position in shares of Allot in the 2nd quarter valued at $14,175,000. QVT Financial LP grew its stake in shares of Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after buying an additional 817,938 shares in the last quarter. Kanen Wealth Management LLC lifted its position in Allot by 19.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider’s stock worth $38,713,000 after acquiring an additional 742,146 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its position in 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 valued at $5,353,000 after acquiring an additional 457,726 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Allot during the second quarter valued at approximately $3,164,000. Hedge funds and other institutional investors own 51.50% of the company’s stock.

About Allot

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.