Analysts Set A10 Networks, Inc. (NYSE:ATEN) Price Target at $22.00

Key Points

• A10 Networks, Inc. has received a consensus rating of "Moderate Buy" from six brokerages, with an average target price set at $22.00.
• The company's quarterly earnings report indicated an EPS of $0.21, surpassing analyst expectations and showing a 15.5% increase in revenue year-over-year.
• A10 Networks recently announced a quarterly dividend of $0.06 per share, representing an annual yield of 1.4%.

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.00.

A number of research analysts have issued reports on the stock. Mizuho assumed coverage on shares of A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating on the stock. Wall Street Zen raised shares of A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, BTIG Research raised shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective on the stock in a research report on Wednesday, August 6th.

A10 Networks Trading Down 2.4%

Shares of NYSE ATEN traded down $0.44 during mid-day trading on Wednesday, hitting $17.43. The stock had a trading volume of 499,322 shares, compared to its average volume of 599,879. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. A10 Networks has a 1 year low of $13.30 and a 1 year high of $21.90. The business has a 50 day moving average price of $17.99 and a two-hundred day moving average price of $17.68. The firm has a market cap of $1.26 billion, a P/E ratio of 25.64 and a beta of 1.37.

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

A10 Networks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks's dividend payout ratio is currently 35.29%.

Insider Buying and Selling at A10 Networks

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

Hedge Funds Weigh In On A10 Networks

Hedge funds have recently bought and sold shares of the company. Vestcor Inc bought a new position in A10 Networks in the 1st quarter worth about $44,000. Sunbelt Securities Inc. bought a new position in A10 Networks in the 4th quarter worth about $50,000. Caitong International Asset Management Co. Ltd bought a new position in A10 Networks in the 1st quarter worth about $55,000. CWM LLC boosted its stake in A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in 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 worth $114,000 after purchasing an additional 3,225 shares in the last quarter. Institutional investors own 98.61% of the company's stock.

A10 Networks Company Profile

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.