Allot’s (ALLT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Allot (NASDAQ:ALLT)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $15.00 target price on the communications equipment provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 89.59% from the company’s previous close.

Several other research firms have also commented on ALLT. Needham & Company LLC boosted their price objective on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a report on Wednesday, January 21st. TD Cowen set a $11.00 price objective on Allot in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Wall Street Zen downgraded shares of Allot from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Five equities 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Allot Stock Performance

Shares of NASDAQ:ALLT opened at $7.91 on Wednesday. The firm has a market capitalization of $384.92 million, a P/E ratio of 105.46 and a beta of 1.46. The stock has a 50 day moving average price of $7.01 and a 200-day moving average price of $8.74. Allot has a 52-week low of $6.12 and a 52-week high of $11.92.

Allot (NASDAQ:ALLT) last released its quarterly 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. The company had revenue of $26.43 million for the quarter, compared to analyst estimates of $26.12 million. Allot had a return on equity of 6.35% and a net margin of 3.63%. On average, equities analysts forecast that Allot will post 0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Allot

Several institutional investors have recently bought and sold shares of 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. bought a new position in shares of Allot in the 4th quarter valued at about $112,000. XTX Topco Ltd lifted its holdings 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 valued at $339,000 after acquiring an additional 2,718 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Allot in the fourth quarter worth about $133,000. Finally, Trexquant Investment LP increased its stake in Allot by 10.5% during the fourth quarter. Trexquant Investment LP now owns 259,325 shares of the communications equipment provider’s stock worth $2,549,000 after acquiring an additional 24,715 shares during the last quarter. Institutional investors own 51.50% of the company’s stock.

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.