Analysts Set Allot Ltd. (NASDAQ:ALLT) Target Price at $13.63

Allot Ltd. (NASDAQ:ALLT) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.6250.

A number of analysts have commented on the company. Needham & Company LLC lifted their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of Allot in a report on Wednesday, May 13th. Finally, TD Cowen set a $11.00 target price on Allot in a research report on Wednesday, February 25th.

Insider Buying and Selling at Allot

In other news, insider Mark Shteiman sold 6,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total value of $45,480.00. Following the sale, the insider directly owned 214,000 shares of the company’s stock, valued at $1,622,120. This represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Noam Lelah sold 21,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $8.48, for a total transaction of $178,080.00. Following the completion of the sale, the senior vice president directly owned 176,250 shares in the company, valued at $1,494,600. This trade represents a 10.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 45,556 shares of company stock worth $359,464. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Allot

Institutional investors have recently modified their holdings of the stock. Kanen Wealth Management LLC lifted its holdings in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after buying an additional 51,029 shares during the period. Lazard Asset Management LLC acquired a new stake in Allot during the first quarter worth about $1,208,000. Sei Investments Co. raised its position in Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after acquiring an additional 461,175 shares in the last quarter. Silverberg Bernstein Capital Management LLC raised its position in Allot by 5.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock valued at $1,165,000 after acquiring an additional 9,450 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in Allot during the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Allot Trading Up 1.6%

Shares of Allot stock opened at $7.51 on Tuesday. The firm’s 50 day simple moving average is $7.36 and its two-hundred day simple moving average is $8.51. The firm has a market capitalization of $365.36 million, a price-to-earnings ratio of 57.77 and a beta of 1.48. Allot has a 12-month low of $6.12 and a 12-month high of $11.92.

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

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.