Zacks Investment Research Upgrades Allot Communications (NASDAQ:ALLT) to Buy

Allot Communications (NASDAQ:ALLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $17.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.40% from the company’s current price.

According to Zacks, “Allot Ltd. is a provider of network intelligence and security solutions for service providers and enterprises. Allot Ltd., formerly known as ALLOT COMM LTD, is based in HOD HASHARON, Israel. “

Separately, Lake Street Capital increased their price target on Allot Communications from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, June 8th.

Shares of ALLT opened at $14.48 on Monday. Allot Communications has a 52 week low of $8.46 and a 52 week high of $21.04. The company has a market capitalization of $512.35 million, a price-to-earnings ratio of -42.59 and a beta of 0.60. The stock’s 50-day moving average price is $16.84 and its 200-day moving average price is $17.51.

Allot Communications (NASDAQ:ALLT) last issued its earnings results on Monday, August 9th. The communications equipment provider reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Allot Communications had a negative return on equity of 8.72% and a negative net margin of 8.56%. The firm had revenue of $35.29 million for the quarter. Equities research analysts expect that Allot Communications will post -0.2 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Allot Communications stock. Alpha Paradigm Partners LLC bought a new stake in shares of Allot Communications Ltd (NASDAQ:ALLT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,076 shares of the communications equipment provider’s stock, valued at approximately $477,000. Alpha Paradigm Partners LLC owned about 0.07% of Allot Communications at the end of the most recent reporting period. Institutional investors own 73.20% of the company’s stock.

About Allot Communications

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.

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