Allot Communications Sets New 52-Week Low After Earnings Miss (ALLT)
Allot Communications (NASDAQ:ALLT) shares reached a new 52-week low during trading on Tuesday following a dissappointing earnings announcement, Analyst Ratings Net reports. The stock traded as low as $10.50 and last traded at $10.64, with a volume of 1,672,095 shares changing hands. The stock had previously closed at $12.75.
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.
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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $16.51.
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 $349.2 million.
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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