A10 Networks, Inc. (NYSE:ATEN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• A10 Networks has received a consensus recommendation of "Moderate Buy", with four analysts issuing buy ratings and three recommending a hold.
• The average 12-month price target for A10 Networks among analysts is $22.00, reflecting positive sentiment towards the company's future performance.
• In a recent earnings report, A10 Networks surpassed expectations by posting $0.21 earnings per share, exceeding the consensus estimate of $0.20.

A10 Networks, Inc. (NYSE:ATEN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $22.00.

Several equities analysts recently weighed in on the company. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research report on Wednesday, August 6th. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Mizuho initiated coverage on A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of A10 Networks in a research note on Thursday, September 18th.

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 that occurred on Wednesday, August 13th. The stock was 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 in the company, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On A10 Networks

Large investors have recently modified their holdings of the stock. Boston Trust Walden Corp bought a new stake in A10 Networks during the 1st quarter worth approximately $26,894,000. Penserra Capital Management LLC grew its position in A10 Networks by 56.2% during the 2nd quarter. Penserra Capital Management LLC now owns 3,964,989 shares of the communications equipment provider's stock worth $76,722,000 after acquiring an additional 1,425,792 shares during the last quarter. Wellington Management Group LLP grew its position in A10 Networks by 390.9% during the 1st quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock worth $18,466,000 after acquiring an additional 899,919 shares during the last quarter. Legal & General Group Plc grew its position in A10 Networks by 348.6% during the 2nd quarter. Legal & General Group Plc now owns 992,678 shares of the communications equipment provider's stock worth $19,208,000 after acquiring an additional 771,405 shares during the last quarter. Finally, Invesco Ltd. grew its position in A10 Networks by 184.7% during the 1st quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock worth $17,082,000 after acquiring an additional 678,207 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

A10 Networks Price Performance

NYSE ATEN opened at $18.36 on Friday. A10 Networks has a twelve month low of $13.81 and a twelve month high of $21.90. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The stock has a market capitalization of $1.32 billion, a PE ratio of 26.99 and a beta of 1.27. The stock has a 50-day simple moving average of $17.80 and a 200 day simple moving average of $17.57.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $69.38 million during the quarter, compared to analysts' expectations of $65.99 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm's revenue was up 15.5% compared to the same quarter last year. Research analysts anticipate that A10 Networks will post 0.69 EPS for the current year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 15th. A10 Networks's payout ratio is currently 35.29%.

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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