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

Shares of Allot Ltd. (NASDAQ:ALLT) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.3750.

Several research analysts have recently issued reports on ALLT shares. Northland Securities set a $17.00 target price on shares of Allot in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th.

Insider Buying and Selling

In related news, CEO Eyal Harari sold 29,111 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $7.64, for a total transaction of $222,408.04. Following the completion of the transaction, the chief executive officer owned 1,099,118 shares in the company, valued at approximately $8,397,261.52. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Boaz Grossman sold 6,000 shares of Allot stock in a transaction on Friday, August 21st. The shares were sold at an average price of $7.45, for a total transaction of $44,700.00. Following the completion of the sale, the senior vice president owned 186,000 shares in the company, valued at $1,385,700. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 66,333 shares of company stock worth $512,240. 3.40% of the stock is owned by insiders.

Institutional Trading of Allot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its holdings in Allot by 36.0% during the 2nd quarter. Squarepoint Ops LLC now owns 14,775 shares of the communications equipment provider’s stock valued at $131,000 after purchasing an additional 3,908 shares during the last quarter. Advisory Alpha LLC acquired a new position in shares of Allot in the fourth quarter valued at $153,000. DCF Advisers LLC raised its position in shares of Allot by 2.9% in the fourth quarter. DCF Advisers LLC now owns 72,000 shares of the communications equipment provider’s stock valued at $708,000 after purchasing an additional 2,000 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Allot by 24.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock worth $857,000 after buying an additional 19,013 shares during the last quarter. Finally, Riverwater Partners LLC acquired a new stake in shares of Allot during the 4th quarter worth about $1,658,000. Institutional investors own 51.50% of the company’s stock.

Allot Stock Down 3.0%

ALLT stock opened at $7.84 on Thursday. The company has a market cap of $381.42 million, a P/E ratio of 35.64 and a beta of 1.50. Allot has a twelve month low of $6.12 and a twelve month high of $11.92. The business has a fifty day moving average of $7.83 and a 200-day moving average of $7.49.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $27.74 million for the quarter, compared to analysts’ expectations of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. As a group, equities research analysts anticipate that Allot will post 0.23 earnings per share for the current fiscal year.

Allot announced that its board has initiated a share buyback plan on Tuesday, June 23rd that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Allot Company Profile

Allot Ltd., formerly known as Allot Communications, develops network intelligence, traffic management and cybersecurity solutions for communications service providers. Its technologies help telecommunications operators monitor and analyze network traffic, optimize performance, manage bandwidth and support the delivery of digital services.

The company’s product portfolio has included solutions for network visibility, subscriber and application analytics, broadband traffic management, policy enforcement, parental controls and network security.