A10 Networks (NYSE:ATEN) Lowered to Hold Rating by Wall Street Zen

Key Points

• A10 Networks has been downgraded from a buy to a hold rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• The company's average rating stands at "Moderate Buy" with a consensus price target of $22.00, while BWS Financial maintains a buy rating with a $24.00 price target.
• A10 Networks recently reported a quarterly earnings per share of $0.20, exceeding analysts' expectations, and showed an 8.9% year-over-year revenue increase.

A10 Networks (NYSE:ATEN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on ATEN. BWS Financial reiterated a "buy" rating and set a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Mizuho initiated coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a "neutral" rating on the stock. Raymond James Financial started coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a "market perform" rating on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research report on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a report on Friday, June 27th. They issued a "buy" rating and a $22.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, A10 Networks presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Price Performance

A10 Networks stock opened at $17.75 on Friday. A10 Networks has a 52 week low of $12.27 and a 52 week high of $21.90. The company's 50 day moving average price is $18.41 and its two-hundred day moving average price is $18.21. The stock has a market cap of $1.28 billion, a P/E ratio of 26.49, a P/E/G ratio of 4.37 and a beta of 1.35. The company has a quick ratio of 3.87, a current ratio of 4.05 and a debt-to-equity ratio of 1.11.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a return on equity of 24.23% and a net margin of 18.70%. A10 Networks's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. On average, equities analysts predict that A10 Networks will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the transaction, the general counsel owned 61,007 shares in the company, valued at $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is owned by corporate insiders.

Institutional Trading of A10 Networks

Institutional investors have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new stake in shares of A10 Networks in the first quarter worth $44,000. Sunbelt Securities Inc. purchased a new stake in shares of A10 Networks in the 4th quarter valued at about $50,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of A10 Networks during the 1st quarter valued at about $55,000. CWM LLC grew its holdings in shares of A10 Networks by 45.6% during the first 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, DRW Securities LLC bought a new position in shares of A10 Networks in the first quarter worth approximately $188,000. Hedge funds and other 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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