A10 Networks, Inc. (NYSE:ATEN) Receives Average Rating of "Hold" from Brokerages

Key Points

• A10 Networks has an average “Hold” rating from six brokerages: four analysts recommend holding the stock, while two recommend buying it. The average 12-month price target is $31.29.
• Recent analyst actions were mixed: BTIG Research raised its target to $37 and maintained a “Buy,” while Mizuho raised its target to $34 but kept a “Neutral” rating; Wall Street Zen downgraded the stock to “Hold.”
• A10 Networks exceeded quarterly expectations, reporting EPS of $0.24 versus a $0.22 estimate and revenue of $75 million, up 13.4% year over year. The stock opened at $29.54, down 1.4%, with institutional investors owning 98.61% of shares.

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) have been assigned an average rating of "Hold" from the six brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.2857.

Several analysts recently issued reports on ATEN shares. Wall Street Zen lowered A10 Networks from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Sidoti restated a "neutral" rating and issued a $24.00 target price on shares of A10 Networks in a research note on Monday, April 20th. Weiss Ratings raised A10 Networks from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. BTIG Research raised their price target on A10 Networks from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Mizuho lifted their price target on A10 Networks from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th.

A10 Networks Stock Down 1.4%

ATEN stock opened at $29.54 on Friday. The company has a 50 day moving average of $33.65 and a two-hundred day moving average of $26.36. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 47.65 and a beta of 1.14. A10 Networks has a 12-month low of $16.52 and a 12-month high of $38.49. The company has a quick ratio of 3.56, a current ratio of 3.71 and a debt-to-equity ratio of 0.99.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The communications equipment provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. A10 Networks had a net margin of 14.90% and a return on equity of 25.00%. The business had revenue of $75.00 million for the quarter, compared to analysts' expectations of $72.61 million. During the same period in the previous year, the company posted $0.20 EPS. A10 Networks's revenue was up 13.4% on a year-over-year basis. On average, equities analysts anticipate that A10 Networks will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric Singer sold 24,698 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $27.21, for a total transaction of $672,032.58. Following the transaction, the director owned 68,806 shares of the company's stock, valued at approximately $1,872,211.26. This trade represents a 26.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.21% of the company's stock.

Institutional Trading of A10 Networks

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of A10 Networks by 131.3% during the 1st quarter. Royal Bank of Canada now owns 213,118 shares of the communications equipment provider's stock worth $3,482,000 after purchasing an additional 120,966 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of A10 Networks by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 835,252 shares of the communications equipment provider's stock valued at $13,648,000 after purchasing an additional 51,086 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of A10 Networks by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,658 shares of the communications equipment provider's stock valued at $3,311,000 after purchasing an additional 11,268 shares during the last quarter. Jane Street Group LLC boosted its holdings in A10 Networks by 120.0% in the first quarter. Jane Street Group LLC now owns 173,493 shares of the communications equipment provider's stock worth $2,835,000 after purchasing an additional 94,641 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in A10 Networks by 81.7% in the first quarter. Intech Investment Management LLC now owns 73,995 shares of the communications equipment provider's stock worth $1,209,000 after purchasing an additional 33,262 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

A10 Networks Company Profile

A10 Networks, Inc NYSE: ATEN, headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company's offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company's core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.

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