Allot Communications (NASDAQ:ALLT) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Allot Communications (NASDAQ:ALLT – Get Rating) posted its quarterly earnings data on Tuesday. The communications equipment provider reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.14, Fidelity Earnings reports. Allot Communications had a negative net margin of 10.33% and a negative return on equity of 10.67%. During the same quarter last year, the business earned ($0.10) earnings per share. Allot Communications updated its FY 2022 guidance to EPS.

Shares of NASDAQ:ALLT opened at $5.10 on Wednesday. Allot Communications has a 12 month low of $4.60 and a 12 month high of $21.04. The company’s fifty day simple moving average is $6.92 and its 200 day simple moving average is $9.45. The firm has a market cap of $186.10 million, a price-to-earnings ratio of -12.44 and a beta of 0.99.

Several analysts have recently weighed in on the stock. Bank of America lowered shares of Allot Communications from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $14.00 to $10.00 in a report on Thursday, February 17th. Zacks Investment Research lowered shares of Allot Communications from a “hold” rating to a “sell” rating in a report on Monday, February 21st. StockNews.com initiated coverage on shares of Allot Communications in a report on Thursday, March 31st. They issued a “hold” rating for the company. Lake Street Capital lowered shares of Allot Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Needham & Company LLC lowered their price target on shares of Allot Communications from $22.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, February 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Allot Communications has a consensus rating of “Hold” and an average price target of $15.80.

A hedge fund recently raised its stake in Allot Communications stock. Ancora Advisors LLC lifted its position in shares of Allot Communications Ltd (NASDAQ:ALLT – Get Rating) by 56.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,392 shares of the communications equipment provider’s stock after purchasing an additional 9,140 shares during the period. Ancora Advisors LLC owned 0.07% of Allot Communications worth $406,000 at the end of the most recent quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

Allot Communications Company Profile (Get Rating)

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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