Allot’s (ALLT) “Buy” Rating Reiterated at Needham & Company LLC

Allot (NASDAQ:ALLT)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $12.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 19.50% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, October 8th. Citigroup reaffirmed an “outperform” rating on shares of Allot in a research note on Tuesday, January 6th. Cowen started coverage on shares of Allot in a research report on Monday, October 20th. They issued a “buy” rating on the stock. Cantor Fitzgerald began coverage on shares of Allot in a report on Monday, January 12th. They issued an “overweight” rating and a $15.00 price target for the company. Finally, Zacks Research raised shares of Allot from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

Allot Price Performance

NASDAQ ALLT opened at $10.46 on Tuesday. Allot has a 12 month low of $4.37 and a 12 month high of $11.92. The firm has a market capitalization of $506.79 million, a PE ratio of 348.67 and a beta of 1.52. The company’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $9.19.

Hedge Funds Weigh In On Allot

A number of institutional investors have recently bought and sold shares of ALLT. Quarry LP acquired a new stake in Allot during the 3rd quarter worth about $37,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot during the third quarter valued at approximately $108,000. FNY Investment Advisers LLC raised its holdings in shares of Allot by 33.3% during the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider’s stock valued at $119,000 after acquiring an additional 3,500 shares during the period. LeConte Wealth Management LLC purchased a new stake in shares of Allot in the 3rd quarter valued at approximately $128,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Allot in the 2nd quarter worth approximately $139,000. 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.