Allot (NASDAQ:ALLT) Rating Lowered to “Hold” at Wall Street Zen

Allot (NASDAQ:ALLT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

ALLT has been the subject of several other reports. Citigroup restated an “outperform” rating on shares of Allot in a research note on Tuesday, January 6th. Needham & Company LLC decreased their price target on shares of Allot from $12.50 to $8.50 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Allot in a research note on Thursday, February 19th. TD Cowen set a $11.00 target price on shares of Allot in a report on Wednesday. Finally, Northland Securities set a $18.00 price objective on shares of Allot in a research report on Tuesday, January 6th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Allot Price Performance

Shares of NASDAQ ALLT opened at $6.34 on Friday. The stock has a market cap of $307.19 million, a PE ratio of 79.26 and a beta of 1.57. Allot has a 1 year low of $4.37 and a 1 year high of $11.92. The firm has a fifty day moving average price of $9.94 and a 200-day moving average price of $9.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Wednesday, February 25th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Allot had a return on equity of 6.84% and a net margin of 3.63%.The business had revenue of $28.40 million during the quarter, compared to analyst estimates of $27.90 million. On average, research analysts expect that Allot will post -0.18 EPS for the current year.

Institutional Trading of Allot

Several hedge funds have recently made changes to their positions in ALLT. Quarry LP acquired a new stake in Allot during the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC acquired a new position in Allot in the 4th quarter valued at $62,000. State of Wyoming acquired a new position in Allot during the 4th quarter worth approximately $66,000. Wells Fargo & Company MN lifted its holdings in Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after acquiring an additional 6,000 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot in the third quarter valued at about $108,000. Hedge funds and other institutional investors 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.