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Why Allot Stock Fell 16% Today

TheMotleyFool

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Allot (NASDAQ: ALLT) stock fell hard on Tuesday, dropping 16% by 11:30 a.m. EST. The cybersecurity specialist announced third-quarter results that missed Wall Street's high expectations.

Sales rose 10% to $38 million, which marked a slight acceleration compared to the prior quarter, when revenue rose 8%. Allot benefited from strong demand for cybersecurity services and won a large deal with a U.S. wireless internet provider. "We continued to execute on our plan and grow [in the third quarter]," CEO Erez Antebi said in a press release.

Image source: Getty Images.

Source Fool.com

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