Allot’s (ALLT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Allot (NASDAQ:ALLT) in a report published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $12.50 price objective on the communications equipment provider’s stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut Allot from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Zacks Research cut shares of Allot from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. TD Cowen assumed coverage on shares of Allot in a report on Monday, October 20th. They set a “buy” rating and a $13.00 price target on the stock. Finally, William Blair began coverage on shares of Allot in a research report on Thursday, August 21st. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.75.

Allot Price Performance

NASDAQ:ALLT opened at $9.31 on Friday. The firm has a market capitalization of $451.10 million, a price-to-earnings ratio of -186.20 and a beta of 1.46. Allot has a one year low of $4.06 and a one year high of $11.42. The business has a fifty day moving average price of $9.71 and a 200-day moving average price of $8.75.

Institutional Investors Weigh In On Allot

Several institutional investors and hedge funds have recently modified their holdings of ALLT. Kanen Wealth Management LLC grew its stake in Allot by 19.6% during the second quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider’s stock valued at $38,713,000 after acquiring an additional 742,146 shares in the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in Allot by 38.1% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 146,172 shares of the communications equipment provider’s stock worth $1,250,000 after purchasing an additional 40,300 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Allot by 17.6% during the 2nd quarter. US Bancorp DE now owns 67,835 shares of the communications equipment provider’s stock valued at $580,000 after purchasing an additional 10,139 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Allot by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock valued at $6,648,000 after purchasing an additional 86,437 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Allot during the second quarter valued at about $254,000. Institutional investors own 51.50% of the company’s stock.

Allot Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.