Allot Communications (ALLT) Sets New 1-Year High at $6.90

Shares of Allot Communications Ltd (NASDAQ:ALLT) hit a new 52-week high on Monday . The stock traded as high as $6.90 and last traded at $6.73, with a volume of 32281 shares traded. The stock had previously closed at $6.66.

Several analysts have weighed in on ALLT shares. Needham & Company LLC raised Allot Communications from a “hold” rating to a “buy” rating and set a $6.35 price objective for the company in a report on Monday, August 6th. ValuEngine raised Allot Communications from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Oppenheimer reissued a “hold” rating on shares of Allot Communications in a report on Thursday, August 9th. Zacks Investment Research raised Allot Communications from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Thursday, August 16th. Finally, TheStreet raised Allot Communications from a “d+” rating to a “c-” rating in a report on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Allot Communications has a consensus rating of “Hold” and an average price target of $6.45.

The company has a market cap of $224.54 million, a P/E ratio of -20.23 and a beta of 0.35.

Allot Communications (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $23.00 million during the quarter, compared to analysts’ expectations of $22.65 million. Allot Communications had a negative return on equity of 6.46% and a negative net margin of 16.97%. On average, sell-side analysts anticipate that Allot Communications Ltd will post -0.24 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Allot Communications by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,004,604 shares of the communications equipment provider’s stock valued at $5,385,000 after acquiring an additional 55,564 shares during the last quarter. P.A.W. Capital Corp increased its stake in shares of Allot Communications by 2.9% in the 2nd quarter. P.A.W. Capital Corp now owns 720,000 shares of the communications equipment provider’s stock valued at $3,859,000 after acquiring an additional 20,000 shares during the last quarter. Unterberg Capital LLC increased its stake in shares of Allot Communications by 9.0% in the 3rd quarter. Unterberg Capital LLC now owns 600,000 shares of the communications equipment provider’s stock valued at $3,708,000 after acquiring an additional 49,290 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Allot Communications by 110.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 442,630 shares of the communications equipment provider’s stock valued at $2,736,000 after acquiring an additional 231,913 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Allot Communications in the 2nd quarter valued at about $1,523,000. 55.84% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was originally published by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.wkrb13.com/2018/11/07/allot-communications-allt-sets-new-1-year-high-at-6-90.html.

About Allot Communications (NASDAQ:ALLT)

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.

Featured Article: Understanding Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Allot Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allot Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply