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

Allot (NASDAQ:ALLT)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Friday,Benzinga reports. They currently have a $12.50 target price on the communications equipment provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 44.18% from the company’s current price.

A number of other equities analysts have also commented on ALLT. Wall Street Zen lowered Allot from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 24th. William Blair initiated coverage on Allot in a research report on Thursday, August 21st. They issued an “outperform” rating on the stock. Zacks Research lowered Allot from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research report on Wednesday, October 8th. Finally, TD Cowen initiated coverage on shares of Allot in a research note on Monday, October 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Allot Price Performance

Shares of ALLT opened at $8.67 on Friday. The company has a market capitalization of $420.09 million, a PE ratio of -173.40 and a beta of 1.46. Allot has a one year low of $3.91 and a one year high of $11.42. The company’s fifty day moving average price is $9.70 and its 200 day moving average price is $8.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in Allot in the 3rd quarter valued at $37,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot during the 3rd quarter valued at about $108,000. LeConte Wealth Management LLC acquired a new stake in shares of Allot during the 3rd quarter valued at about $128,000. FNY Investment Advisers LLC increased its stake in Allot by 33.3% in 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. Finally, OMERS ADMINISTRATION Corp acquired a new position in Allot in the second quarter worth about $139,000. 51.50% of the stock is owned by institutional investors.

About Allot

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.