Allot Communications (NASDAQ: ALLT) was upgraded by investment analysts at ThinkEquity from a “hold” rating to a “buy (hold)” rating in a note issued to investors on Monday. The firm currently has a $30.00 target price on the stock.
Shares of Allot Communications opened at 25.23 on Monday. Allot Communications has a one year low of $9.38 and a one year high of $26.97. The company has a market cap of $787.6 million and a P/E ratio of 68.19.
Allot Communications last issued its quarterly earnings data on Tuesday, May 1st. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.04. Allot Communications’s revenue was up 40.7% compared to the same quarter last year. On average, analysts predict that Allot Communications will post $0.14 earnings per share next quarter.
A number of other firms have also recently commented on ALLT. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of Allot Communications to $28.00 in a research note to investors on Wednesday, May 2nd. They now have a “hold” rating on the stock. Separately, analysts at Maxim Group raised their price target on shares of Allot Communications from $27.00 to $30.00 in a research note to investors on Wednesday, May 2nd. They now have a “buy” rating on the stock. Finally, analysts at Wunderlich raised their price target on shares of Allot Communications from $26.00 to $31.00 in a research note to investors on Tuesday, May 1st.
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.