Allot Communications Rating Increased to Neutral at Zacks (ALLT)
Allot Communications (NASDAQ:ALLT) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, American Banking News.com reports. The firm currently has a $14.20 price objective on the stock. Zacks‘ target price would indicate a potential upside of 6.21% from the stock’s previous close.
Allot Communications (NASDAQ:ALLT) traded down 3.67% during mid-day trading on Tuesday, hitting $13.37. The stock had a trading volume of 295,605 shares. Allot Communications has a one year low of $10.75 and a one year high of $25.60. The stock has a 50-day moving average of $12.81 and a 200-day moving average of $12.7. The company’s market cap is $436.3 million.
Allot Communications (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.09. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $26.34 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. Analysts expect that Allot Communications will post $0.15 EPS for the current fiscal year.
A number of other firms have also recently commented on ALLT. Analysts at RBC Capital downgraded shares of Allot Communications from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday, August 13th. They now have a $13.00 price target on the stock, down previously from $15.00. Separately, analysts at Barclays Capital reiterated an “equal weight” rating on shares of Allot Communications in a research note to investors on Wednesday, August 7th. They now have a $13.00 price target on the stock. Finally, analysts at Pacific Crest downgraded shares of Allot Communications from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, August 7th. They now have a $16.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.66.
Allot Communications Ltd. (NASDAQ:ALLT) is a provider of Internet protocol (IP) service optimization solutions for mobile, digital subscriber line (DSL) and wireless broadband carriers, cable operator service providers and enterprises.
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