Allot (NASDAQ:ALLT) Coverage Initiated by Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage on Allot (NASDAQ:ALLT) with a "buy" rating and a price target of $13.00, indicating a potential upside of 36.41% from the stock's previous close.
• Other analysts have differing views on Allot, with three analysts rating it as "buy," one as "hold," and one as "sell," resulting in an average rating of "hold" and a consensus target price of $13.00.
• Allot recently reported earnings of ($0.01) per share, surpassing estimates, and had revenue of $24.05 million for the quarter, exceeding consensus expectations.

Equities research analysts at TD Cowen initiated coverage on shares of Allot (NASDAQ:ALLT - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set a "buy" rating and a $13.00 price target on the communications equipment provider's stock. TD Cowen's target price suggests a potential upside of 36.41% from the stock's previous close.

ALLT has been the topic of several other research reports. William Blair assumed coverage on Allot in a research report on Thursday, August 21st. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Allot in a research report on Wednesday, October 8th. Cowen assumed coverage on Allot in a research note on Monday. They set a "buy" rating for the company. Zacks Research cut Allot from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Finally, Wall Street Zen lowered Allot from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Three 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.00.

Allot Price Performance

Shares of ALLT opened at $9.53 on Monday. The stock has a market capitalization of $443.43 million, a price-to-earnings ratio of -190.60 and a beta of 1.45. The business's 50 day simple moving average is $9.07 and its 200-day simple moving average is $8.09. Allot has a 1 year low of $3.19 and a 1 year high of $11.42.

Allot (NASDAQ:ALLT - Get Free Report) last released its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $24.05 million for the quarter, compared to the consensus estimate of $22.90 million. Allot had a positive return on equity of 0.94% and a negative net margin of 2.12%. On average, sell-side analysts expect that Allot will post -0.18 earnings per share for the current year.

Institutional Trading of Allot

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. G2 Investment Partners Management LLC acquired a new stake in Allot in the second quarter valued at approximately $14,175,000. QVT Financial LP grew its holdings in Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider's stock valued at $36,598,000 after purchasing an additional 817,938 shares during the period. Kanen Wealth Management LLC grew its holdings in Allot by 19.6% in the second quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider's stock valued at $38,713,000 after purchasing an additional 742,146 shares during the period. Greenhaven Road Investment Management L.P. grew its holdings in Allot by 272.0% in the second quarter. Greenhaven Road Investment Management L.P. now owns 626,024 shares of the communications equipment provider's stock valued at $5,353,000 after purchasing an additional 457,726 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Allot in the second quarter valued at approximately $3,164,000. 51.50% of the stock is owned by institutional investors and hedge funds.

Allot Company Profile

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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