Allot Communications (ALLT) Cut to Sell at Zacks Investment Research

Allot Communications (NASDAQ:ALLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Allot Communications Ltd. is a leading provider of intelligent IP service optimization solutions. Designed for carriers, service providers and enterprises, Allot solutions apply deep packet inspection technology to transform broadband pipes into smart networks. This creates the visibility and control vital to manage applications, services and subscribers, guarantee quality of service, contain operating costs and maximize revenue. Allot believes in listening to customers and provides them access to its global network of visionaries, innovators and support engineers. “

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Allot Communications from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Bank of America raised shares of Allot Communications from an “underperform” rating to a “buy” rating in a research note on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. Allot Communications currently has a consensus rating of “Hold”.

Shares of Allot Communications (NASDAQ:ALLT) traded up $0.18 during midday trading on Wednesday, hitting $5.30. 80,700 shares of the company traded hands, compared to its average volume of 76,305. Allot Communications has a 12 month low of $4.54 and a 12 month high of $6.09. The stock has a market capitalization of $169.58, a P/E ratio of -9.81 and a beta of 0.65.

Allot Communications (NASDAQ:ALLT) last issued its earnings results on Tuesday, February 6th. The communications equipment provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Allot Communications had a negative return on equity of 7.99% and a negative net margin of 22.04%. The firm had revenue of $23.20 million during the quarter, compared to analysts’ expectations of $22.89 million. During the same period in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. analysts predict that Allot Communications will post -0.27 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Senvest Management LLC purchased a new position in Allot Communications during the 3rd quarter valued at $751,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Allot Communications during the 4th quarter valued at $4,489,000. Essex Investment Management Co. LLC purchased a new position in Allot Communications during the 4th quarter valued at $219,000. Deutsche Bank AG increased its position in Allot Communications by 635.4% during the 4th quarter. Deutsche Bank AG now owns 84,553 shares of the communications equipment provider’s stock valued at $450,000 after purchasing an additional 73,055 shares during the period. Finally, Renaissance Technologies LLC increased its position in Allot Communications by 17.7% during the 4th quarter. Renaissance Technologies LLC now owns 850,700 shares of the communications equipment provider’s stock valued at $4,534,000 after purchasing an additional 128,097 shares during the period. 46.90% of the stock is currently owned by institutional investors and hedge funds.

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About Allot Communications

Allot Communications Ltd. (Allot) is a global provider of security and monetization solutions that enable mobile, fixed and enterprise service providers to protect and personalize the digital experience. The Company has a global and diverse customer base composed of mobile and fixed broadband service providers, cable operators, private networks, data centers, governments and enterprises, such as financial and educational institutions.

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