Allot (NASDAQ:ALLT) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Allot (NASDAQ:ALLT) from a "strong-buy" to a "hold" rating, reflecting a more cautious outlook on the stock.
• Despite the downgrade, Allot shares increased by 1.5% on Thursday, having a market cap of $462.51 million.
• Allot recently reported better-than-expected quarterly earnings, with a revenue of $24.05 million, surpassing analysts' expectations.

Allot (NASDAQ:ALLT - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also issued reports on ALLT. Wall Street Zen lowered Allot from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. William Blair assumed coverage on Allot in a research note on Thursday, August 21st. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Allot has an average rating of "Moderate Buy".

Allot Stock Up 1.5%

Shares of Allot stock opened at $9.94 on Thursday. Allot has a 12-month low of $2.78 and a 12-month high of $10.77. The stock has a market cap of $462.51 million, a P/E ratio of -198.80 and a beta of 1.43. The business's 50 day moving average is $8.28 and its 200-day moving average is $7.60.

Allot (NASDAQ:ALLT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $24.05 million for the quarter, compared to analysts' expectations of $22.90 million. On average, sell-side analysts expect that Allot will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Allot

A number of hedge funds have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC increased 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 worth $38,713,000 after purchasing an additional 742,146 shares in the last quarter. QVT Financial LP grew its stake 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 acquiring an additional 817,938 shares during the period. G2 Investment Partners Management LLC purchased a new position in shares of Allot during the second quarter valued at approximately $14,175,000. Acadian Asset Management LLC boosted its position in shares of Allot by 12.5% during the second quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider's stock valued at $6,648,000 after buying an additional 86,437 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its position in shares of Allot by 272.0% during 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 buying an additional 457,726 shares during the last quarter. 51.50% of the stock is currently owned by institutional investors.

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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