Brokerages Set Allot Ltd. (NASDAQ:ALLT) Target Price at $13.62

Shares of Allot Ltd. (NASDAQ:ALLT) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.6250.

ALLT has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th. Needham & Company LLC raised their price objective on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th.

Insider Activity

In other Allot news, insider Mark Shteiman sold 6,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total transaction of $45,480.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Boaz Grossman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total value of $36,850.00. Following the transaction, the senior vice president owned 192,000 shares in the company, valued at approximately $1,415,040. This trade represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 47,556 shares of company stock worth $374,464. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Allot

Large investors have recently made changes to their positions in the stock. QVT Financial LP raised its stake in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after acquiring an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC boosted its position in Allot by 1.1% during the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares during the period. Renaissance Technologies LLC boosted its position in Allot by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after purchasing an additional 106,740 shares during the period. Greenhaven Road Investment Management L.P. boosted its position in Allot by 12.8% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after purchasing an additional 97,348 shares during the period. Finally, Millennium Management LLC grew its holdings in Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after purchasing an additional 531,412 shares during the last quarter. Institutional investors own 51.50% of the company’s stock.

Allot Stock Performance

ALLT opened at $8.43 on Friday. The stock has a fifty day moving average price of $7.62 and a 200 day moving average price of $8.27. Allot has a 1 year low of $6.12 and a 1 year high of $11.92. The stock has a market cap of $410.12 million, a price-to-earnings ratio of 64.85 and a beta of 1.46.

Allot (NASDAQ:ALLT) last issued its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The company had revenue of $26.43 million for the quarter. As a group, sell-side analysts forecast that Allot will post 0.21 earnings per share for the current fiscal year.

Allot declared that its Board of Directors has approved a stock buyback program on Tuesday, June 23rd that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Allot Company Profile

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.