Allot Communications (NASDAQ:ALLT – Get Rating) had its target price lowered by equities research analysts at Needham & Company LLC from $6.50 to $6.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 38.89% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Northland Securities lowered their price objective on shares of Allot Communications from $19.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com started coverage on shares of Allot Communications in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Allot Communications presently has a consensus rating of “Hold” and an average target price of $10.25.
Allot Communications Stock Performance
ALLT opened at $4.32 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.61 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $4.74. Allot Communications has a 1-year low of $3.47 and a 1-year high of $13.23. The company has a market cap of $157.64 million, a price-to-earnings ratio of -5.40 and a beta of 0.97.
Institutional Trading of Allot Communications
A hedge fund recently raised its stake in Allot Communications stock. Cowen Prime Advisors LLC lifted its position in Allot Communications Ltd (NASDAQ:ALLT – Get Rating) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,918 shares of the communications equipment provider’s stock after acquiring an additional 6,567 shares during the quarter. Cowen Prime Advisors LLC owned approximately 0.13% of Allot Communications worth $184,000 at the end of the most recent reporting period. Institutional investors own 74.92% of the company’s stock.
About Allot Communications
Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.
- Get a free copy of the StockNews.com research report on Allot Communications (ALLT)
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