Allot Ltd. (NASDAQ:ALLT) Receives $13.62 Average Target Price from Analysts

Allot Ltd. (NASDAQ:ALLT) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.6250.

A number of equities analysts have weighed in on ALLT shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Needham & Company LLC increased their target price on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th.

Allot Price Performance

ALLT opened at $7.65 on Wednesday. The company has a market capitalization of $372.17 million, a price-to-earnings ratio of 58.85 and a beta of 1.46. The business’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $8.15. Allot has a 1 year low of $6.12 and a 1 year high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. The company had revenue of $26.43 million during the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. Sell-side analysts anticipate that Allot will post 0.21 earnings per share for the current fiscal year.

Allot announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, June 23rd that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Boaz Grossman sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the transaction, the senior vice president directly owned 192,000 shares in the company, valued at $1,415,040. This represents a 2.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Shteiman sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $7.58, for a total value of $45,480.00. Following the completion of the transaction, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. The trade was a 2.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,556 shares of company stock valued at $374,464 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. QVT Financial LP boosted its holdings in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after buying an additional 556,730 shares during the last quarter. Kanen Wealth Management LLC increased its holdings 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 worth $30,994,000 after buying an additional 51,029 shares during the last quarter. Renaissance Technologies LLC raised its position in Allot by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after acquiring an additional 106,740 shares in the last quarter. Greenhaven Road Investment Management L.P. raised its position in Allot by 12.8% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after acquiring an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Allot by 239.4% in the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after acquiring an additional 531,412 shares during the last quarter. Institutional investors and hedge funds own 51.50% of the company’s stock.

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.