Allot (NASDAQ:ALLT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Allot (NASDAQ:ALLT) in a report released on Tuesday morning,Benzinga reports. They currently have a $12.50 price objective on the communications equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Cowen began coverage on Allot in a research note on Monday, October 20th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a report on Wednesday, October 8th. TD Cowen assumed coverage on Allot in a research report on Monday, October 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Northland Securities set a $18.00 target price on Allot in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald started coverage on shares of Allot in a research note on Monday, January 12th. They set an “overweight” rating and a $15.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.63.

Allot Trading Down 1.4%

Allot stock opened at $10.31 on Tuesday. Allot has a 12-month low of $4.37 and a 12-month high of $11.92. The firm has a 50-day moving average price of $9.70 and a 200-day moving average price of $9.21. The firm has a market capitalization of $499.52 million, a PE ratio of 343.67 and a beta of 1.52.

Hedge Funds Weigh In On Allot

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Allot in the third quarter valued at about $37,000. Y Intercept Hong Kong Ltd purchased a new position in Allot during the 3rd quarter valued at about $108,000. FNY Investment Advisers LLC raised its holdings in shares of Allot by 33.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 3,500 shares in the last quarter. LeConte Wealth Management LLC bought a new stake in shares of Allot in the 3rd quarter valued at about $128,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Allot in the 2nd quarter worth approximately $139,000. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Allot Company Profile

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.