Allot Communications Given New $16.00 Price Target at Wunderlich (ALLT)
Stock analysts at Wunderlich reduced their price objective on shares of Allot Communications (NASDAQ:ALLT) from $19.00 to $16.00 in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. Wunderlich’s target price points to a potential upside of 25.49% from the stock’s previous close.
Shares of Allot Communications (NASDAQ:ALLT) traded down 18.12% during mid-day trading on Tuesday, hitting $10.44. The stock had a trading volume of 2,555,740 shares. Allot Communications has a 52 week low of $11.52 and a 52 week high of $18.09. The stock has a 50-day moving average of $13.0 and a 200-day moving average of $14.06. The company’s market cap is $343.9 million.
Allot Communications (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.08 by $0.02. The company had revenue of $28.20 million for the quarter, compared to the consensus estimate of $28.78 million. During the same quarter last year, the company posted ($0.03) earnings per share. Allot Communications’s revenue was up 33.0% compared to the same quarter last year. On average, analysts predict that Allot Communications will post $0.38 earnings per share for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Allot Communications from a “neutral” rating to an “underperform” rating in a research note on Wednesday, May 7th. They now have a $12.10 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Allot Communications currently has an average rating of “Buy” and an average target price of $16.31.
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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