A10 Networks (NYSE:ATEN) Receives "Hold (C)" Rating from Weiss Ratings

Key Points

• A10 Networks' stock maintained a "hold (c)" rating from Weiss Ratings, while several other brokerages have issued varying ratings, including Craig Hallum raising it to "buy" with a $20 price target.
• The company's stock price has fallen by 3.6%, with recent trading at $17.75, marking a price fluctuation within a 52-week range of $12.27 to $21.90.
• A10 Networks reported strong earnings, with an EPS of $0.20 for the last quarter, exceeding analyst estimates, and a revenue increase of 8.9% compared to the previous year.

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

Several other brokerages also recently commented on ATEN. BWS Financial reaffirmed a "buy" rating and set a $24.00 target price on shares of A10 Networks in a report on Friday, May 2nd. Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a research note on Saturday. Craig Hallum raised shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Friday, May 2nd. Mizuho assumed coverage on shares of A10 Networks in a report on Monday, July 14th. They set a "neutral" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Price Performance

Shares of A10 Networks stock traded up $0.98 during trading on Friday, reaching $18.77. 757,854 shares of the company's stock were exchanged, compared to its average volume of 968,763. The firm's 50-day moving average price is $18.44 and its 200 day moving average price is $18.19. The company has a market cap of $1.35 billion, a P/E ratio of 28.01, a PEG ratio of 4.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.87 and a current ratio of 4.05. A10 Networks has a 1-year low of $12.37 and a 1-year high of $21.90.

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, beating analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. As a group, research analysts anticipate that A10 Networks will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the sale, the general counsel owned 61,007 shares in the company, valued at approximately $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On A10 Networks

Hedge funds have recently made changes to their positions in the business. Vestcor Inc bought a new stake in A10 Networks during the 1st quarter valued at $44,000. Sunbelt Securities Inc. bought a new position in shares of A10 Networks in the 4th quarter worth about $50,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of A10 Networks in the 1st quarter worth approximately $55,000. CWM LLC increased its stake in A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in A10 Networks in the second quarter worth approximately $194,000. 98.61% of the stock is currently owned by institutional investors.

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.