Verizon new business plan offering a ‘clear positive’ for Allot, says Northland

Northland analyst Nehal Chokshi notes that Verizon (VZ) introduced yesterday the “My Biz Plan” for business mobile users, which is consistent with the highest value option for Allot (ALLT) of the four options the firm had outlined in a prior note. Business Mobile Internet Security, which is powered by Allot’s SECaaS, is bundled as a base option within the premium bundle, making the national rollout of BMIS lead the firm to believe Allot is in the “early innings of delivering durable 30+%” Security as a Service revenue and ARR growth, the analyst tells investors. The firm keeps an Outperform rating and $13 price target on Allot, which it reiterates as a “Top Pick.”