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 stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday.

Other research analysts have also issued research reports about the company. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, May 2nd. Mizuho began coverage on A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price for the company. Finally, BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Price Performance

Shares of NYSE:ATEN traded up $0.31 during trading on Friday, hitting $18.13. 289,796 shares of the stock were exchanged, compared to its average volume of 972,251. The company has a fifty day moving average price of $18.48 and a two-hundred day moving average price of $18.15. The company has a market cap of $1.31 billion, a PE ratio of 26.65 and a beta of 1.35. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. A10 Networks has a 12-month low of $12.68 and a 12-month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%. The firm had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same quarter in the prior year, the company earned $0.18 EPS. A10 Networks's revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that A10 Networks will post 0.69 EPS for the current year.

Insider Buying and Selling at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the sale, the general counsel owned 61,007 shares of the company's stock, valued at approximately $1,052,980.82. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in A10 Networks by 47.2% during the 4th quarter. JPMorgan Chase & Co. now owns 477,311 shares of the communications equipment provider's stock worth $8,783,000 after purchasing an additional 153,116 shares in the last quarter. Franklin Resources Inc. grew its position in A10 Networks by 40.0% during the 4th quarter. Franklin Resources Inc. now owns 89,111 shares of the communications equipment provider's stock worth $1,640,000 after purchasing an additional 25,447 shares in the last quarter. Geode Capital Management LLC grew its position in A10 Networks by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider's stock worth $30,868,000 after purchasing an additional 14,764 shares in the last quarter. Wells Fargo & Company MN grew its position in A10 Networks by 112.3% during the 4th quarter. Wells Fargo & Company MN now owns 55,048 shares of the communications equipment provider's stock worth $1,013,000 after purchasing an additional 29,123 shares in the last quarter. Finally, Barclays PLC grew its position in A10 Networks by 350.4% during the 4th quarter. Barclays PLC now owns 685,720 shares of the communications equipment provider's stock worth $12,618,000 after purchasing an additional 533,482 shares in the last quarter. Institutional investors own 98.61% of the company's stock.

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.