Allot Communications (NASDAQ:ALLT) was upgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, AnalystRatings.Net reports. The firm currently has a $18.00 target price on the stock. Oppenheimer’s price objective indicates a potential upside of 22.03% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company cut their price target on shares of Allot Communications from $21.00 to $18.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Maxim Group raised their price target on shares of Allot Communications from $16.00 to $17.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Allot Communications from $16.00 to $18.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock.
Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $17.08.
Allot Communications (NASDAQ:ALLT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.03) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.09. The company had revenue of $21.50 million for the quarter, compared to the consensus estimate of $26.34 million. During the same quarter last year, the company posted $0.15 earnings per share. Allot Communications’s revenue was down 19.7% compared to the same quarter last year. On average, analysts predict that Allot Communications will post $0.35 earnings per share for the current fiscal year.
Allot Communications Ltd. (NASDAQ:ALLT) is a provider of Internet protocol (IP) service optimization solutions for mobile, digital subscriber line (DSL) and wireless broadband carriers, cable operator service providers and enterprises.
