Allot (NASDAQ:ALLT) Sets New 12-Month High - Still a Buy?

Key Points

• Allot Ltd. has reached a new 52-week high trading at $10.88, with a trading volume of 190,410 shares.
• Analysts have recently downgraded Allot's rating from "strong-buy" to "buy" and "hold," resulting in a consensus rating of "Moderate Buy."
• In the latest quarterly earnings report, Allot reported a revenue of $24.05 million, surpassing analyst estimates of $22.90 million.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $10.84 and last traded at $10.88, with a volume of 190410 shares trading hands. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Allot from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 24th. William Blair assumed coverage on shares of Allot in a research note on Thursday, August 21st. They issued an "outperform" rating for the company. Finally, Zacks Research lowered shares of Allot from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Allot presently has a consensus rating of "Moderate Buy".

Allot Trading Up 4.3%

The stock's 50 day moving average price is $8.42 and its 200 day moving average price is $7.70. The company has a market capitalization of $509.27 million, a price-to-earnings ratio of -218.90 and a beta of 1.45.

Allot (NASDAQ:ALLT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The communications equipment provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. The company had revenue of $24.05 million during the quarter, compared to the consensus estimate of $22.90 million. On average, research analysts expect that Allot Ltd. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Allot

Large investors have recently modified their holdings of the business. Kanen Wealth Management LLC boosted its stake in shares of 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 worth $38,713,000 after buying an additional 742,146 shares during the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in 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 valued at $1,250,000 after purchasing an additional 40,300 shares during the last quarter. DCF Advisers LLC acquired a new stake in Allot in the 1st quarter valued at about $138,000. Cloud Capital Management LLC acquired a new stake in Allot in the 1st quarter valued at about $452,000. Finally, Magnetar Financial LLC acquired a new stake in Allot in the 2nd quarter valued at about $173,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

About Allot

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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