Allot Communications (NASDAQ:ALLT) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of Allot Communications (NASDAQ:ALLT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

ALLT has been the subject of a number of other research reports. Zacks Investment Research cut Allot Communications from a hold rating to a sell rating in a report on Thursday, August 15th. ValuEngine cut Allot Communications from a buy rating to a hold rating in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and a consensus target price of $7.13.

Shares of NASDAQ:ALLT opened at $7.56 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.79 and a current ratio of 3.02. Allot Communications has a 1 year low of $5.67 and a 1 year high of $8.34. The stock has a market capitalization of $259.70 million, a P/E ratio of -31.50 and a beta of 0.78. The stock has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $7.55.

Allot Communications (NASDAQ:ALLT) last issued its earnings results on Tuesday, August 6th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Allot Communications had a negative return on equity of 6.28% and a negative net margin of 8.91%. The firm had revenue of $26.55 million for the quarter, compared to analysts’ expectations of $26.63 million. Analysts predict that Allot Communications will post -0.28 earnings per share for the current year.

Several large investors have recently modified their holdings of ALLT. Sphera Funds Management LTD. boosted its holdings in Allot Communications by 62.1% in the 1st quarter. Sphera Funds Management LTD. now owns 965,931 shares of the communications equipment provider’s stock worth $7,669,000 after acquiring an additional 370,167 shares during the period. Cowen Prime Services LLC boosted its holdings in Allot Communications by 41.4% in the 2nd quarter. Cowen Prime Services LLC now owns 8,200 shares of the communications equipment provider’s stock worth $59,000 after acquiring an additional 2,400 shares during the period. Finally, Worth Venture Partners LLC boosted its holdings in Allot Communications by 13.5% in the 2nd quarter. Worth Venture Partners LLC now owns 104,725 shares of the communications equipment provider’s stock worth $755,000 after acquiring an additional 12,442 shares during the period. Institutional investors and hedge funds own 59.35% 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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