Zacks Investment Research upgraded shares of Allot Communications (NASDAQ:ALLT) from a hold rating to a buy rating in a report issued on Monday, Zacks.com reports. They currently have $17.00 price target on the communications equipment provider’s stock.
According to Zacks, “Allot Ltd. is a provider of network intelligence and security solutions for service providers and enterprises. Allot Ltd., formerly known as ALLOT COMM LTD, is based in HOD HASHARON, Israel. “
Separately, Lake Street Capital boosted their price objective on shares of Allot Communications from $20.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, June 8th.
Allot Communications (NASDAQ:ALLT) last released its quarterly earnings results on Monday, August 9th. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Allot Communications had a negative net margin of 8.56% and a negative return on equity of 8.72%. The company had revenue of $35.29 million during the quarter. Research analysts predict that Allot Communications will post -0.2 earnings per share for the current year.
A hedge fund recently bought a new stake in Allot Communications stock. Cowen Prime Advisors LLC acquired a new position in Allot Communications Ltd (NASDAQ:ALLT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,600 shares of the communications equipment provider’s stock, valued at approximately $309,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
About Allot Communications
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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