Allot (NASDAQ:ALLT) Downgraded by Wall Street Zen to "Buy"

Key Points

• Allot's stock rating was downgraded from "strong-buy" to "buy" by Wall Street Zen in a recent research report.
• Shares of Allot (NASDAQ: ALLT) opened at $7.79 and have a 12-month range between $2.75 and $10.77.
• In its latest earnings report, Allot reported a net loss of ($0.01) per share, exceeding analysts' expectations, and generated $24.05 million in revenue for the quarter.

Wall Street Zen cut shares of Allot (NASDAQ:ALLT - Free Report) from a strong-buy rating to a buy rating in a research note released on Sunday.

Separately, William Blair started coverage on Allot in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Allot Stock Down 4.5%

Shares of ALLT traded down $0.37 during trading on Friday, reaching $7.89. The company's stock had a trading volume of 434,171 shares, compared to its average volume of 548,129. The company has a fifty day moving average of $8.20 and a two-hundred day moving average of $7.23. Allot has a twelve month low of $2.75 and a twelve month high of $10.77. The company has a market cap of $367.12 million, a price-to-earnings ratio of -157.80 and a beta of 1.32.

Allot (NASDAQ:ALLT - Get Free Report) last issued its earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. Allot had a positive return on equity of 0.94% and a negative net margin of 2.12%.The firm had revenue of $24.05 million for the quarter, compared to analyst estimates of $22.90 million. As a group, equities analysts forecast that Allot will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Allot

Several institutional investors have recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in shares of Allot during the 1st quarter valued at about $452,000. DCF Advisers LLC bought a new position in shares of Allot in the 1st quarter worth approximately $138,000. Silverberg Bernstein Capital Management LLC raised its position in shares of Allot by 38.1% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 146,172 shares of the communications equipment provider's stock worth $1,250,000 after acquiring an additional 40,300 shares in the last quarter. Kanen Wealth Management LLC increased its position in Allot by 19.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider's stock valued at $38,713,000 after buying an additional 742,146 shares in the last quarter. Finally, US Bancorp DE increased its position in Allot by 17.6% during the 2nd quarter. US Bancorp DE now owns 67,835 shares of the communications equipment provider's stock valued at $580,000 after buying an additional 10,139 shares in the last quarter. Institutional investors own 51.50% of the company's stock.

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.