Chardan Capital Markets Cuts Allot Communications to Neutral (ALLT)
Allot Communications (NASDAQ: ALLT) was downgraded by equities researchers at Chardan Capital Markets from a “buy” rating to a “neutral” rating in a report issued on Monday. They currently have a $20.00 target price on the stock.
Shares of Allot Communications traded up 7.58% during mid-day trading on Monday, hitting $26.40. Allot Communications has a one year low of $9.38 and a one year high of $25.36. The company has a market cap of $835.7 million and a P/E ratio of 74.36.
The company last announced its quarterly results on Tuesday, May 1st. It reported $0.15 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.11 EPS by $0.04. The company’s quarterly revenue was up 40.7% on a year-over-year basis. On average, analysts predict that Allot Communications will post $0.13 earnings per share next quarter.
Several other analysts have also recently commented on the stock. Analysts at Pacific Crest initiated coverage on shares of Allot Communications in a research note to investors on Monday. They set an “outperform” rating on the stock. Separately, analysts at Maxim Group raised their price target on shares of Allot Communications from $21.00 to $27.00 in a research note to investors on Wednesday, April 11st. They now have a “buy” rating on the stock. Finally, analysts at ThinkEquity downgraded shares of Allot Communications from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, April 10th.
Allot Communications Ltd. (Allot) is a provider of Internet protocol (IP) service optimization solutions for mobile, digital subscriber line (DSL) and wireless broadband carriers, cable operator service providers and enterprises.