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

Allot Ltd. (NASDAQ:ALLT) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $12.75.

A number of equities research analysts recently weighed in on the stock. Cowen started coverage on shares of Allot in a report on Monday, October 20th. They issued a “buy” rating on the stock. William Blair started coverage on Allot in a report on Thursday, August 21st. They set an “outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a report on Wednesday, October 8th. Wall Street Zen cut Allot from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. Finally, TD Cowen assumed coverage on Allot in a report on Monday, October 20th. They set a “buy” rating and a $13.00 price target for the company.

Allot Trading Up 4.2%

Allot stock opened at $9.93 on Tuesday. The firm has a market capitalization of $481.11 million, a price-to-earnings ratio of 331.00 and a beta of 1.53. The firm’s fifty day moving average price is $9.66 and its two-hundred day moving average price is $8.89. Allot has a 1-year low of $4.37 and a 1-year high of $11.42.

Institutional Trading of Allot

Several institutional investors and hedge funds have recently made changes to their positions in ALLT. G2 Investment Partners Management LLC purchased a new position in Allot during the second quarter worth about $14,175,000. QVT Financial LP lifted its position in shares of Allot by 22.2% during the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock worth $36,598,000 after buying an additional 817,938 shares in the last quarter. Kanen Wealth Management LLC lifted its position in shares of Allot by 19.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider’s stock worth $38,713,000 after buying an additional 742,146 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after buying an additional 531,412 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its stake in shares of Allot by 272.0% in the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider’s stock worth $5,353,000 after buying an additional 457,726 shares during the last quarter. Hedge funds and other institutional investors own 51.50% of the company’s stock.

About Allot

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.