Cantor Fitzgerald Begins Coverage on Allot (NASDAQ:ALLT)

Analysts at Cantor Fitzgerald began coverage on shares of Allot (NASDAQ:ALLT) in a report released on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $15.00 price target on the communications equipment provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 37.87% from the stock’s previous close.

Other analysts have also issued reports about the stock. Citigroup reaffirmed an “outperform” rating on shares of Allot in a research report on Tuesday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.50 target price on shares of Allot in a report on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. TD Cowen started coverage on Allot in a research note on Monday, October 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Northland Securities set a $18.00 target price on shares of Allot in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allot currently has an average rating of “Moderate Buy” and an average target price of $14.63.

Allot Stock Performance

ALLT opened at $10.88 on Monday. The firm has a market capitalization of $527.14 million, a PE ratio of 362.67 and a beta of 1.52. Allot has a 52-week low of $4.37 and a 52-week high of $11.92. The business’s 50-day simple moving average is $9.55 and its 200 day simple moving average is $9.14.

Hedge Funds Weigh In On Allot

Institutional investors and hedge funds have recently modified their holdings of the business. Worth Venture Partners LLC raised its stake in Allot by 4.6% in the 3rd quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock worth $465,000 after purchasing an additional 1,946 shares in the last quarter. Magnetar Financial LLC increased its holdings in shares of Allot by 10.8% during the third quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock worth $237,000 after purchasing an additional 2,192 shares during the period. Quarry LP acquired a new stake in shares of Allot in the third quarter valued at approximately $37,000. FNY Investment Advisers LLC raised its position in shares of Allot by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after buying an additional 3,500 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in shares of Allot by 2.7% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 165,428 shares of the communications equipment provider’s stock valued at $1,626,000 after buying an additional 4,300 shares during the period. 51.50% of the stock is currently owned by institutional investors and hedge funds.

About Allot

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.