A10 Networks (NYSE:ATEN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded A10 Networks from hold to buy, adding to a broadly positive analyst backdrop that now includes a consensus rating of Moderate Buy and an average price target of $23.86.
• The stock has been strong recently, opening at $27.80 and trading near its 52-week high of $28.59. A10 Networks also reported quarterly results that beat expectations, with EPS of $0.24 versus $0.22 expected and revenue up 13.4% year over year.
• Insiders have been selling shares, including CEO Dhrupad Trivedi and director Eric Singer, with total insider sales of 91,365 shares over the last 90 days. Despite that, institutional investors still own 98.61% of the company.

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

ATEN has been the topic of a number of other reports. Mizuho lifted their price target on shares of A10 Networks from $23.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, April 14th. DNB Markets set a $9.00 price objective on shares of A10 Networks in a research note on Monday, March 9th. Sidoti reissued a "neutral" rating and set a $24.00 target price on shares of A10 Networks in a research report on Monday, April 20th. BWS Financial boosted their target price on shares of A10 Networks from $28.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.86.

A10 Networks Trading Up 1.9%

Shares of ATEN stock opened at $27.80 on Friday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 44.83 and a beta of 1.17. 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 has a fifty-two week low of $16.52 and a fifty-two week high of $28.59. The firm's 50 day moving average price is $23.62 and its two-hundred day moving average price is $19.96.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $75.00 million for the quarter, compared to analysts' expectations of $72.62 million. A10 Networks had a net margin of 14.90% and a return on equity of 25.00%. A10 Networks's revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. A10 Networks has set its FY 2026 guidance at 0.640-0.650 EPS. On average, analysts anticipate that A10 Networks will post 0.83 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Dhrupad Trivedi sold 33,334 shares of A10 Networks stock in a transaction on Friday, February 13th. The shares were sold at an average price of $20.55, for a total value of $685,013.70. Following the completion of the sale, the chief executive officer owned 713,597 shares in the company, valued at approximately $14,664,418.35. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Singer sold 24,698 shares of A10 Networks stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $27.21, for a total transaction of $672,032.58. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 91,365 shares of company stock valued at $2,046,706. Insiders own 1.21% of the company's stock.

Institutional Trading of A10 Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of A10 Networks by 14.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,938 shares of the communications equipment provider's stock worth $91,000 after buying an additional 488 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in A10 Networks by 11.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 55,218 shares of the communications equipment provider's stock worth $1,330,000 after purchasing an additional 5,671 shares during the period. Fifth Third Bancorp boosted its holdings in A10 Networks by 3,005.6% in the first quarter. Fifth Third Bancorp now owns 17,081 shares of the communications equipment provider's stock worth $395,000 after purchasing an additional 16,531 shares during the period. Hsbc Holdings PLC boosted its holdings in A10 Networks by 14.3% in the first quarter. Hsbc Holdings PLC now owns 175,780 shares of the communications equipment provider's stock worth $4,048,000 after purchasing an additional 21,964 shares during the period. Finally, Abel Hall LLC acquired a new position in A10 Networks in the first quarter worth $293,000. Institutional investors own 98.61% of the company's stock.

About A10 Networks

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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