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Fly News Breaks for February 3, 2020
ALLT
Feb 3, 2020 | 08:23 EDT
Needham analyst Alex Henderson raised his price target on Allot Communications to $11.50 and kept his Buy rating ahead of its Q4 results, with a book-to-bill ratio well above 1.0 in every reported 2019 quarter. The analyst expects the company to beat on earnings and forecast accelerating revenue growth in 2020, though he also believes that it needs to sustain its pace of subscription wins after the stock nearly doubled over the past 18 months. Henderson adds that Allot Communications should succeed given its "robust pipeline of leads" and the adoption intent of its customers regarding its Security subscription businesses.
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