Allot Ltd. (NASDAQ:ALLT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.6250.

Several equities analysts recently issued reports on the company. Needham & Company LLC upped their target price 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 reaffirmed an “overweight” rating and set a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th.

Allot Trading Down 0.6%

Shares of Allot stock opened at $8.08 on Wednesday. Allot has a 12-month low of $6.12 and a 12-month high of $11.92. The firm has a market capitalization of $393.09 million, a price-to-earnings ratio of 62.16 and a beta of 1.46. The firm’s 50 day simple moving average is $7.82 and its two-hundred day simple moving average is $8.19.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The business had revenue of $26.43 million during the quarter. On average, sell-side analysts predict that Allot will post 0.21 EPS for the current fiscal year.

Allot announced that its board has approved a share buyback program on Tuesday, June 23rd that permits the company to buyback $40.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Allot

In related news, SVP Boaz Grossman sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $7.37, for a total value of $36,850.00. Following the sale, the senior vice president owned 192,000 shares in the company, valued at $1,415,040. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Noam Lelah sold 21,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.48, for a total transaction of $178,080.00. Following the completion of the transaction, the senior vice president owned 176,250 shares in the company, valued at approximately $1,494,600. This trade represents a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,556 shares of company stock worth $374,464 over the last quarter. Insiders own 3.40% of the company’s stock.

Institutional Trading of Allot

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Allot in the third quarter worth $37,000. Kestra Advisory Services LLC purchased a new stake in Allot in the fourth quarter valued at $62,000. State of Wyoming purchased a new stake in Allot in the fourth quarter valued at $66,000. Wells Fargo & Company MN boosted its holdings in Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in Allot during the 4th quarter worth about $112,000. Institutional investors and hedge funds 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.