Allot Ltd. (NASDAQ:ALLT) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Allot Ltd. (NASDAQ:ALLT) has earned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.38.

ALLT has been the subject of a number of research reports. Northland Securities set a $17.00 target price on shares of Allot in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research note on Tuesday, September 22nd.

Allot Stock Performance

ALLT stock opened at $8.39 on Monday. The stock has a market cap of $413.63 million, a P/E ratio of 38.14 and a beta of 1.48. The firm has a 50 day simple moving average of $7.94 and a 200 day simple moving average of $7.69. Allot has a 52 week low of $6.12 and a 52 week high of $11.92.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Allot had a net margin of 9.40% and a return on equity of 9.64%. The firm had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Sell-side analysts predict that Allot will post 0.23 EPS for the current year.

Allot announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 23rd that permits the company to repurchase $40.00 million in shares. This buyback authorization permits the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Allot

In other Allot news, insider Gili Groner sold 26,666 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total value of $209,594.76. Following the transaction, the insider directly owned 59,467 shares of the company’s stock, valued at $467,410.62. This represents a 30.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Boaz Grossman sold 4,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $7.80, for a total value of $31,200.00. Following the completion of the transaction, the senior vice president directly owned 182,000 shares in the company, valued at approximately $1,419,600. The trade was a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 66,333 shares of company stock valued at $512,240. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Allot

Several institutional investors have recently made changes to their positions in ALLT. Squarepoint Ops LLC increased its holdings in Allot by 36.0% in the second quarter. Squarepoint Ops LLC now owns 14,775 shares of the communications equipment provider’s stock worth $131,000 after buying an additional 3,908 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Allot by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock valued at $857,000 after acquiring an additional 19,013 shares in the last quarter. Kanen Wealth Management LLC raised its position in Allot by 1.1% during the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after acquiring an additional 51,029 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Allot in the first quarter valued at approximately $1,208,000. Finally, Sei Investments Co. lifted its stake in Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after acquiring an additional 461,175 shares during the last quarter. 51.50% of the stock is currently owned by institutional investors and hedge funds.

About Allot

Allot Ltd. is a telecommunications technology company that provides network intelligence, traffic management and cybersecurity solutions to communications service providers. Its software and hardware help operators monitor network traffic, analyze subscriber and application usage, optimize performance and manage service quality across fixed, mobile and broadband networks.

The company’s portfolio has included network visibility and analytics tools, policy and traffic-management platforms, and security products designed to help detect and mitigate threats such as distributed denial-of-service attacks.