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., 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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This article is originally published at Insider Monkey.
