Needham & Company LLC Reaffirms Buy Rating for Allot (NASDAQ:ALLT)

Allot (NASDAQ:ALLT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $12.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 44.18% from the stock’s previous close.

ALLT has been the topic of several other research reports. William Blair initiated coverage on Allot in a report on Thursday, August 21st. They set an “outperform” rating on the stock. TD Cowen began coverage on Allot in a research report on Monday, October 20th. They set a “buy” rating and a $13.00 price target on the stock. Zacks Research lowered Allot from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Cowen assumed coverage on Allot in a research note on Monday, October 20th. They set a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.75.

Allot Trading Up 1.5%

NASDAQ ALLT opened at $8.67 on Friday. Allot has a 52 week low of $3.91 and a 52 week high of $11.42. The stock has a market cap of $420.09 million, a price-to-earnings ratio of -173.40 and a beta of 1.46. The company has a 50-day moving average price of $9.70 and a two-hundred day moving average price of $8.69.

Institutional Trading of Allot

A number of institutional investors have recently added to or reduced their stakes in ALLT. NewEdge Advisors LLC acquired a new position in shares of Allot during the 3rd quarter worth $194,000. Worth Venture Partners LLC boosted its holdings in Allot by 4.6% in the third 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. PharVision Advisers LLC acquired a new position in Allot during the third quarter worth $214,000. Verition Fund Management LLC raised its holdings in Allot by 27.8% during the third quarter. Verition Fund Management LLC now owns 40,110 shares of the communications equipment provider’s stock valued at $424,000 after buying an additional 8,736 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Allot in the third quarter worth about $37,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Allot Company Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.