Allot Ltd. (NASDAQ:ALLT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Allot a “Moderate Buy” consensus: four analysts rate the stock a buy, while one each rate it hold and sell. The average 12-month price target is $13.375, above the reported share price of $7.52.
• Allot reported quarterly EPS of $0.09, beating the $0.06 consensus estimate, while revenue of $27.74 million also exceeded expectations. The board approved a $40 million share repurchase plan, covering up to 11.7% of outstanding shares.
• Company insiders sold 68,333 shares worth approximately $527,240 over the last quarter, while institutional investors own 51.5% of Allot’s stock.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.3750.

A number of research analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Allot from $8.50 to $10.50 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Northland Securities set a $17.00 price target on Allot in a research note on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and set a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Allot in a report on Friday, June 26th. Finally, Wall Street Zen upgraded Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th.

Allot Stock Performance

NASDAQ:ALLT opened at $7.52 on Thursday. The company has a market cap of $365.85 million, a PE ratio of 34.18 and a beta of 1.50. Allot has a 52-week low of $6.12 and a 52-week high of $11.92. The stock has a 50-day simple moving average of $7.89 and a 200 day simple moving average of $7.52.

Allot (NASDAQ:ALLT - Get Free Report) last released its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. On average, research analysts predict that Allot will post 0.23 earnings per share for the current fiscal year.

Allot declared that its board has approved a share buyback plan on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Allot news, CEO Eyal Harari sold 29,111 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $7.64, for a total value of $222,408.04. Following the transaction, the chief executive officer directly owned 1,099,118 shares of the company's stock, valued at $8,397,261.52. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Boaz Grossman sold 4,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $7.80, for a total transaction of $31,200.00. Following the sale, the senior vice president directly owned 182,000 shares of the company's stock, valued at approximately $1,419,600. This trade represents a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,333 shares of company stock valued at $527,240 over the last quarter. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Allot during the third quarter worth $37,000. Kestra Advisory Services LLC bought a new position in shares of Allot in the 4th quarter valued at $62,000. State of Wyoming acquired a new position in shares of Allot during the 4th quarter worth $66,000. Wells Fargo & Company MN raised its holdings in shares of Allot by 200.0% during the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider's stock worth $88,000 after buying an additional 6,000 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Allot during the 4th quarter worth $112,000. 51.50% of the stock is owned by institutional investors.

Allot Company Profile

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot's product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.