12 Hot Tech Stocks to Buy According to Wall Street Analysts

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9. Allot Ltd. (NASDAQ:ALLT)

3-Month Performance as of October 24: 26.25%

Number of Hedge Fund Holders: 18

Average Upside Potential as of October 24: 28.59%

Allot Ltd. (NASDAQ:ALLT) is one of the hot tech stocks to buy according to Wall Street analysts. On October 20, TD Cowen initiated coverage of Allot Ltd. with a Buy rating and $13 price target.  TD Cowen believes that the company is well-positioned to sustain double-digit profitable growth in the coming years, primarily due to strong tailwinds in the cybersecurity market.

A major factor in this growth is Allot’s focus on the underserved small business sector, which represents a substantial total addressable market/TAM opportunity of $10 billion. Earlier on October 10, William Blair analyst Jonathan Ho also maintained a Buy rating on Allot, but did not set a price target on the shares.

Allot Ltd. (NASDAQ:ALLT), together with its subsidiaries, develops, sells, and markets network intelligence and security solutions in Israel, Europe, Asia, Oceania, the Americas, the Middle East, and Africa.

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