A10 Networks (NYSE:ATEN) Rating Increased to Buy at Wall Street Zen

Key Points

• A10 Networks was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• The company's recent earnings report showed a profit of $0.21 per share, exceeding expectations, with revenue rising by 15.5% year-over-year.
• A10 Networks has seen substantial institutional investor activity, with 98.61% of its stock owned by hedge funds and other institutional investors.

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

A number of other analysts have also issued reports on ATEN. Raymond James Financial assumed coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a "market perform" rating on the stock. BWS Financial restated a "buy" rating and issued a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a research note on Wednesday, August 6th. Finally, Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Price Performance

Shares of A10 Networks stock traded down $0.78 during trading hours on Friday, reaching $17.37. The company's stock had a trading volume of 189,377 shares, compared to its average volume of 970,627. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. The stock has a market cap of $1.25 billion, a P/E ratio of 25.58 and a beta of 1.35. The firm has a 50 day moving average price of $18.50 and a 200-day moving average price of $18.15. A10 Networks has a one year low of $12.72 and a one year high of $21.90.

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 analysts' consensus estimates 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. A10 Networks's quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that A10 Networks will post 0.69 EPS for the current year.

Insider Activity

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the business's stock in a transaction on 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. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new position in A10 Networks during the first quarter worth approximately $44,000. Sunbelt Securities Inc. bought a new stake in shares of A10 Networks in the 4th quarter worth approximately $50,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of A10 Networks in the first quarter worth approximately $55,000. CWM LLC grew its position in A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in A10 Networks in the first quarter worth approximately $188,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.