Allot Ltd. (NASDAQ:ALLT) Receives $13.62 Average PT from Analysts

Shares of Allot Ltd. (NASDAQ:ALLT) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $13.6250.

Several equities analysts have issued reports on ALLT shares. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Needham & Company LLC increased their target price on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th.

Insider Buying and Selling at Allot

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLT. Worth Venture Partners LLC grew its holdings in Allot by 4.6% in the third quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after purchasing an additional 1,946 shares during the last quarter. DCF Advisers LLC raised its stake in shares of Allot by 2.9% during the 4th quarter. DCF Advisers LLC now owns 72,000 shares of the communications equipment provider’s stock worth $708,000 after buying an additional 2,000 shares during the last quarter. Magnetar Financial LLC boosted its position in shares of Allot by 10.8% in the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 2,192 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Allot by 8.5% in the 4th quarter. XTX Topco Ltd now owns 34,536 shares of the communications equipment provider’s stock worth $339,000 after buying an additional 2,718 shares in the last quarter. Finally, Quarry LP acquired a new stake in Allot in the 3rd quarter valued at about $37,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Allot Price Performance

Shares of NASDAQ:ALLT opened at $7.65 on Wednesday. The company has a market cap of $372.17 million, a price-to-earnings ratio of 58.85 and a beta of 1.46. The firm’s 50-day simple moving average is $7.84 and its 200-day simple moving average is $8.14. Allot has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $26.43 million during the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. On average, research analysts forecast that Allot will post 0.21 EPS for the current year.

Allot declared that its board has initiated a stock buyback program on Tuesday, June 23rd that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the communications equipment provider to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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.