Allot Ltd. (NASDAQ:ALLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One investment 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 updated their coverage on the stock in the last year is $13.6250.

A number of brokerages have recently issued reports on ALLT. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Finally, Needham & Company LLC increased 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.

Insider Activity

In related news, SVP Boaz Grossman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total value of $36,850.00. Following the completion of the sale, the senior vice president owned 192,000 shares in the company, valued at $1,415,040. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Shteiman sold 6,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $7.58, for a total transaction of $45,480.00. Following the sale, the insider directly owned 214,000 shares in the company, valued at approximately $1,622,120. This represents a 2.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 47,556 shares of company stock worth $374,464 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allot

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. QVT Financial LP increased 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 purchasing an additional 556,730 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its holdings in Allot by 12.8% during 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 purchasing an additional 97,348 shares during the last quarter. Potomac Capital Management Inc. purchased a new stake in Allot during the fourth quarter worth $3,483,000. Riverwater Partners LLC purchased a new stake in Allot during the fourth quarter worth $1,658,000. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in Allot by 5.7% in the first 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. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Allot Price Performance

Shares of Allot stock opened at $7.63 on Wednesday. The firm has a market cap of $371.20 million, a price-to-earnings ratio of 58.70 and a beta of 1.46. Allot has a 52-week low of $6.12 and a 52-week high of $11.92. The company’s 50-day simple moving average is $7.85 and its 200-day simple moving average is $8.09.

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 net margin of 5.68% and a return on equity of 7.38%. The firm had revenue of $26.43 million during the quarter. Equities research analysts anticipate that Allot will post 0.21 EPS for the current year.

Allot declared that its board has authorized a share buyback program on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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.