Allot Ltd. (NASDAQ:ALLT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Allot Ltd. (NASDAQ:ALLT) has received an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $13.6250.

A number of brokerages have commented on ALLT. Needham & Company LLC raised their price objective on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of Allot in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th.

Insider Transactions at Allot

In related news, insider Mark Shteiman sold 6,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $7.58, for a total value of $45,480.00. Following the sale, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Noam Lelah sold 21,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the sale, the senior vice president owned 176,250 shares in the company, valued at $1,494,600. This trade represents a 10.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 47,556 shares of company stock valued at $374,464. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Allot

Several institutional investors and hedge funds have recently made changes to their positions in ALLT. Kanen Wealth Management LLC increased its position in shares of Allot by 1.1% during the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares in the last quarter. Lazard Asset Management LLC bought a new position in Allot during the 1st quarter valued at about $1,208,000. Sei Investments Co. lifted its holdings in Allot by 744.0% during the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after purchasing an additional 461,175 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its holdings in Allot by 5.7% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock valued at $1,165,000 after purchasing an additional 9,450 shares during the last quarter. Finally, Invesco Ltd. bought a new position in Allot during the 4th quarter valued at about $112,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

Allot Trading Up 5.5%

Shares of ALLT stock opened at $7.81 on Friday. The stock has a 50 day moving average of $7.48 and a two-hundred day moving average of $8.32. Allot has a 12 month low of $6.12 and a 12 month high of $11.92. The company has a market capitalization of $379.92 million, a P/E ratio of 60.08 and a beta of 1.48.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The company had revenue of $26.43 million during the quarter. Sell-side analysts predict that Allot will post 0.21 earnings per share for the current fiscal year.

Allot announced that its board has authorized a stock repurchase plan on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.