TD Cowen Initiates Allot Ltd. (ALLT) with Buy Rating, $13 PT on Cybersecurity Market Tailwinds

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.

TD Cowen Initiates Allot Ltd. (ALLT) with Buy Rating, $13 PT on Cybersecurity Market Tailwinds

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.

While we acknowledge the potential of ALLT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALLT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.