NEW YORK ( TheStreet) -- Allot Communications (Nasdaq: ALLT) hit a new 52-week high Wednesday as it is currently trading at $21.31, above its previous 52-week high of $21.25 with 259,022 shares traded as of 3:20 p.m. ET. Average volume has been 457,800 shares over the past 30 days. Allot has a market cap of $378.2 million and is part of the technology sector and computer software & services industry. Shares are up 38.2% year to date as of the close of trading on Tuesday. Allot Communications Ltd. engages in developing, selling, and marketing Internet protocol service optimization and revenue generation solutions in Europe, the Middle East, Africa, the Americas, Asia, and Oceania. The company has a P/E ratio of 51.7, above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Allot as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Allot Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.