Tech Losers: Red Hat Inc. (NYSE:RHT), Violin Memory Inc. (NYSE:VMEM), Castlight Health Inc. (NYSE:CSLT), Allot Communications Ltd (NASDAQ:ALLT)

Stock analysts at Robert W. Baird upped their price target on shares of Red Hat (NYSE:RHT) from $60.00 to $65.00 in a report issued on Friday, American Banking & Market News reports. Robert W. Baird’s target price points to a potential upside of 15.80% from the stock’s previous close. Red Hat Inc. (NYSE:RHT) shares after opening at $55.22 moved to $55.35 on last trade day and at the end of the day closed at $52.23. Company price to sales ratio in past twelve months was calculated as 6.68 and price to cash ratio as 10.24. Red Hat Inc. (NYSE:RHT) showed a negative weekly performance of -9.01%.

Violin Memory®, Inc., (NYSE:VMEM), a leading provider of flash storage arrays and appliances delivering application solutions for the enterprise, announced on 19 march the promotion of Steve Dalton to senior vice president of engineering from vice president of software. Violin Memory Inc. (NYSE:VMEM) shares fell -5.34% in last trading session and ended the day on $3.90. VMEM return on equity ratio is recorded as -274.00% and its return on assets is -139.70%.

Castlight Health (NYSE:CSLT) is one of the more controversial $200 million initial public offerings, according to one IPO expert, given the company’s $3.9 billion day-one market cap, its meager $13 million in annual revenue and negative gross margins. But before pundits use Castlight as a proxy for a new bubble, the offering may shed light on the businesses that investors are willing to pay for in current markets. Castlight Health Inc. (NYSE:CSLT) shares moved down -8.70% in last trading session and was closed at $21.42, while trading in range of $21.30 – $24.00. Castlight Health Inc. (NYSE:CSLT) year to date (YTD) performance is -46.18%.

Allot Communications Ltd. (NASDAQ:ALLT) said it has received a new contract from an Asian tier one mobile operator for its video optimization solution and Allot service gateway, to be deployed across the operator´s national network of 15 million subscribers. This is a first time order for Allot with this leading carrier. Allot Communications Ltd (NASDAQ:ALLT) weekly performance is -11.64%. On last trading day company shares ended up $13.21. Allot Communications Ltd (NASDAQ:ALLT) distance from 50-day simple moving average (SMA50) is -17.23%. Analysts mean target price for the company is $17.60.