Allot Communications (ALLT) PT Raised to $10.50 at Needham

Needham analyst Matthew Calitri raised the price target on Allot Communications (NASDAQ: ALLT) to $10.50 (from $8.50) while maintaining a Buy rating.

The analyst commented: "Allot delivered SECaaS Revenue of $8.7 Million (+71% yr-yr) compared to consensus of $7.8 Million, and gave more specific guidance for 40%+ yr-yr CY26 SECaaS Revenue growth. Management pointed to stronger visibility as providing the confidence to issue the updated target compared to commentary for "robust double-digit" SECaaS ARR growth given in 4QCY25. Full-year Total Revenue guidance of $113 Millon to $115 Million was unchanged from the prior quarter, but the company is "increasingly confident" that results could come in towards the upper end of the range. Notably, Recurring Revenue of $17.8 Million grew 26% yr-yr and represented 67% of the overall mix, driving the top line beat that flowed down to profitability. We reiterate our Buy-rating and raise our PT to $10.50."

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