Allot (NASDAQ:ALLT) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Allot (NASDAQ:ALLT) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Citigroup reiterated an “outperform” rating on shares of Allot in a report on Tuesday, January 6th. TD Cowen began coverage on shares of Allot in a research report on Monday, October 20th. They set a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research note on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on Allot in a research report on Monday, January 12th. They set an “overweight” rating and a $15.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $12.50 price target on shares of Allot in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.63.

Allot Price Performance

ALLT stock opened at $10.32 on Monday. The company has a market capitalization of $500.00 million, a P/E ratio of 344.00 and a beta of 1.52. The business has a 50-day moving average price of $9.72 and a 200 day moving average price of $9.21. Allot has a 1-year low of $4.37 and a 1-year high of $11.92.

Institutional Investors Weigh In On Allot

Several large investors have recently modified their holdings of ALLT. Kanen Wealth Management LLC raised its holdings in Allot by 1.7% during the third quarter. Kanen Wealth Management LLC now owns 4,606,003 shares of the communications equipment provider’s stock worth $48,624,000 after purchasing an additional 78,180 shares in the last quarter. QVT Financial LP lifted its holdings in shares of Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after buying an additional 817,938 shares during the period. G2 Investment Partners Management LLC purchased a new stake in shares of Allot in the second quarter valued at approximately $14,175,000. Acadian Asset Management LLC grew its holdings in Allot by 12.5% during the second quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider’s stock worth $6,648,000 after acquiring an additional 86,437 shares during the period. Finally, Greenhaven Road Investment Management L.P. raised its position in Allot by 21.3% in the third quarter. Greenhaven Road Investment Management L.P. now owns 759,643 shares of the communications equipment provider’s stock worth $8,037,000 after acquiring an additional 133,619 shares in the last quarter. 51.50% of the stock is 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.