Oppenheimer analyst George Iwanyc reiterated a Hold rating on Allot (ALLT) today. The company’s shares opened today at $7.83, close to its 52-week high of $8.
Iwanyc said:
“Allot reported strong 4Q18 results above expectations and provided encouraging 2019 revenue guidance of $106M-$110M. We’re raising our sales projections accordingly, noting the 2019 outlook primarily reflects growth from existing customers (Security and DPI with good visibility/backlog coverage) and a small contribution from new Security products/customers. That said, recent security wins are encouraging and bode well for adding more security customers over the next few years (Allot’s actively engaged with 10-15 new tier-1 operators). We’re positive on its execution (product/sales) and strategic direction, though note the NT investment ($79M-$81M 2019 OpEx guidance) being made to drive LT growth causes us to temper our bottom- line estimates somewhat. Reiterate Perform rating with a positive bias, noting better potential for security upside materializing in 2020.”
According to TipRanks.com, Iwanyc is a 3-star analyst with an average return of 7.9% and a 68.4% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Juniper Networks.
Allot has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.
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Based on Allot’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.5 million. In comparison, last year the company had a GAAP net loss of $4.34 million.
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Allot Ltd. engages in the development and provision of network intelligence and security solutions for mobile, fixed service providers, enterprises. It offers analytics, traffic management, policy control and charging, and service enablement platforms.
