Needham Maintains Buy Rating for Allot: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Needham has reaffirmed its Buy rating on Allot (NASDAQ:ALLT) but reduced its price target from $4.00 to $2.50. Despite the lower target, the new price still suggests a significant upside of 83.82% from the current share price of $1.36. Allot Ltd provides network intelligence and security solutions and is utilized by service providers and enterprises globally.
November 24, 2023 | 5:00 pm
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Needham maintains a Buy rating on Allot with a reduced price target of $2.50, suggesting a significant upside from the current price of $1.36.
The reaffirmation of the Buy rating by Needham is a positive signal for investors, indicating the firm's continued confidence in Allot's fundamentals. However, the reduction in the price target may reflect adjustments in market conditions or expectations for Allot's future performance. The substantial potential upside of 83.82% from the current share price to the new target price is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100