A10 Networks' (ATEN) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• A10 Networks has maintained its "hold (C+)" rating by Weiss Ratings, indicating a cautious outlook on the stock.
• Multiple analysts have issued ratings on A10 Networks, with four giving it a "buy" and three a "hold," and an average target price set at $22.00.
• The company's recent earnings report showed a profit of $0.21 per share, surpassing estimates, along with a revenue increase of 15.5% year-over-year.

A10 Networks (NYSE:ATEN - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 price target on the stock. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Wednesday, August 6th. Mizuho started coverage on A10 Networks in a report on Monday, July 14th. They set a "neutral" rating on the stock. Finally, Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, A10 Networks presently has an average rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks Stock Performance

NYSE ATEN traded down $0.08 during trading hours on Friday, hitting $17.95. The company had a trading volume of 76,429 shares, compared to its average volume of 879,219. A10 Networks has a fifty-two week low of $13.81 and a fifty-two week high of $21.90. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $17.76 and a 200-day simple moving average of $17.68. The firm has a market cap of $1.29 billion, a P/E ratio of 26.40 and a beta of 1.27.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same period last year, the company earned $0.18 earnings per share. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts predict that A10 Networks will post 0.69 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the completion of the transaction, the chief financial officer owned 77,599 shares of the company's stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATEN. Vestcor Inc bought a new position in A10 Networks during the first quarter valued at about $44,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of A10 Networks in the 1st quarter valued at $55,000. CWM LLC boosted its position in shares of A10 Networks by 38.1% in the 3rd quarter. CWM LLC now owns 3,640 shares of the communications equipment provider's stock valued at $66,000 after purchasing an additional 1,005 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of A10 Networks by 120.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,898 shares of the communications equipment provider's stock valued at $114,000 after purchasing an additional 3,225 shares during the period. Finally, DRW Securities LLC acquired a new position in shares of A10 Networks in the 1st quarter valued at $188,000. Institutional investors own 98.61% of the company's stock.

About A10 Networks

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.

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