Allot Ltd. (NASDAQ:ALLT) Receives Consensus Rating of “Moderate Buy” from Analysts

Allot Ltd. (NASDAQ:ALLT) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.6250.

A number of research firms recently issued reports on ALLT. Zacks Research downgraded shares of Allot from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Allot in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a report on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $12.50 target price on shares of Allot in a research note on Tuesday, January 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Allot in a report on Tuesday, January 6th.

Hedge Funds Weigh In On Allot

Large investors have recently added to or reduced their stakes in the stock. QVT Financial LP lifted its stake in Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after buying an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC raised its holdings in shares of Allot by 1.7% during the third quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock valued at $48,624,000 after acquiring an additional 78,180 shares during the last quarter. G2 Investment Partners Management LLC purchased a new position in shares of Allot in the second quarter valued at approximately $14,175,000. Renaissance Technologies LLC boosted its stake in shares of Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after acquiring an additional 106,740 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its stake in shares of Allot by 12.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after acquiring an additional 97,348 shares during the last quarter. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Allot Stock Up 0.3%

Shares of Allot stock opened at $10.24 on Friday. The company has a 50 day moving average price of $10.05 and a 200 day moving average price of $9.48. The firm has a market capitalization of $496.16 million, a P/E ratio of 341.33 and a beta of 1.57. Allot has a 52 week low of $4.37 and a 52 week high of $11.92.

Allot Company Profile

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.