Allot Ltd. downgraded to Market Perform from Outperform at Northland

Northland downgraded Allot Ltd. (ALLT) to Market Perform from Outperform with a price target of $3, down from $8. Despite an in-line topline report for Q2, Allot is lowering the midpoint calendar 2023 revenue guidance and the second half guidance indicates that DPI’s “cash cow status has become questionable,” the analyst tells investors. Verizon (VZ) SMB uptake as a catalyst to SECaaS ARR acceleration “remains possible,” but looks “highly uncertain,” the analyst added.