Allot (NASDAQ:ALLT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Allot (NASDAQ:ALLT) had its target price hoisted by Needham & Company LLC from $8.50 to $10.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 25.30% from the company’s previous close.

A number of other research analysts also recently weighed in on ALLT. Cantor Fitzgerald restated an “overweight” rating on shares of Allot in a research report on Thursday, February 19th. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. TD Cowen set a $11.00 price objective on shares of Allot in a research report on Wednesday, February 25th. Wall Street Zen cut shares of Allot from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.63.

Allot Stock Performance

Shares of NASDAQ ALLT opened at $8.38 on Wednesday. The firm’s 50 day moving average price is $7.01 and its 200-day moving average price is $8.74. The company has a market cap of $407.69 million, a PE ratio of 104.76 and a beta of 1.46. Allot has a 52-week low of $6.12 and a 52-week high of $11.92.

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

Hedge Funds Weigh In On Allot

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Silverberg Bernstein Capital Management LLC grew its stake in shares of Allot by 5.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after buying an additional 9,450 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Allot in the 4th quarter worth $112,000. XTX Topco Ltd grew its stake in shares of Allot by 8.5% in the 4th quarter. XTX Topco Ltd now owns 34,536 shares of the communications equipment provider’s stock worth $339,000 after buying an additional 2,718 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Allot in the 4th quarter worth $133,000. Finally, Trexquant Investment LP grew its stake in shares of Allot by 10.5% in the 4th quarter. Trexquant Investment LP now owns 259,325 shares of the communications equipment provider’s stock worth $2,549,000 after buying an additional 24,715 shares in the last quarter. 51.50% of the stock is owned by hedge funds and other institutional investors.

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.