A10 Networks (NYSE:ATEN) Stock Moved Up to Strong-Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded A10 Networks to “strong buy” from “hold,” but broader analyst sentiment remains “hold,” with a consensus price target of $30.38.
• A10 Networks beat quarterly expectations, reporting EPS of $0.31 versus $0.27 forecast and revenue of $91.55 million versus $83.88 million; revenue grew 22.6% year over year.
• Shares were reported down 2.4%, opening at $28.59, within a 12-month range of $16.52 to $38.49.

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

ATEN has been the topic of several other reports. Mizuho lowered their target price on shares of A10 Networks from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Thursday, October 15th. BWS Financial restated a "buy" rating and set a $45.00 price target on shares of A10 Networks in a research report on Friday, August 14th. BTIG Research reaffirmed a "buy" rating and issued a $37.00 price target on shares of A10 Networks in a report on Thursday, August 6th. Deutsche Bank began coverage on A10 Networks in a research report on Monday, August 31st. They issued a "hold" rating and a $28.00 price objective on the stock. Finally, Weiss Ratings upgraded A10 Networks from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $30.38.

A10 Networks Trading Down 2.4%

Shares of ATEN opened at $28.59 on Friday. A10 Networks has a twelve month low of $16.52 and a twelve month high of $38.49. The stock has a market cap of $2.06 billion, a PE ratio of 43.33, a P/E/G ratio of 2.17 and a beta of 0.99. The company has a quick ratio of 3.19, a current ratio of 3.46 and a debt-to-equity ratio of 0.94. The business's 50-day moving average price is $26.23 and its 200-day moving average price is $26.86.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. The company had revenue of $91.55 million during the quarter, compared to analyst estimates of $83.88 million. A10 Networks had a net margin of 14.66% and a return on equity of 25.35%. A10 Networks's revenue was up 22.6% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. On average, equities analysts forecast that A10 Networks will post 0.84 EPS for the current fiscal year.

Insider Transactions at A10 Networks

In other A10 Networks news, Director Dana Wolf sold 2,652 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $25.65, for a total value of $68,023.80. Following the completion of the transaction, the director owned 57,409 shares of the company's stock, valued at $1,472,540.85. The trade was a 4.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.21% of the stock is currently owned by insiders.

Institutional Trading of A10 Networks

Several institutional investors and hedge funds have recently made changes to their positions in ATEN. Transamerica Financial Advisors LLC purchased a new position in A10 Networks in the second quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new position in A10 Networks in the second quarter valued at $27,000. SBI Securities Co. Ltd. increased its stake in A10 Networks by 83.5% in the second quarter. SBI Securities Co. Ltd. now owns 1,167 shares of the communications equipment provider's stock valued at $44,000 after acquiring an additional 531 shares during the last quarter. State of Wyoming purchased a new stake in A10 Networks during the second quarter valued at about $57,000. Finally, Signaturefd LLC raised its position in A10 Networks by 24.2% during the second quarter. Signaturefd LLC now owns 2,159 shares of the communications equipment provider's stock valued at $81,000 after purchasing an additional 421 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company's stock.

A10 Networks Company Profile

A10 Networks, Inc. provides application delivery and cybersecurity solutions for enterprises, service providers and cloud providers. Its products are designed to help organizations maintain the availability, performance and security of applications and network services. The company's portfolio includes application delivery controllers, distributed denial-of-service (DDoS) protection, network firewalls, and tools for encrypted-traffic visibility and management. These solutions are offered as physical appliances, software and cloud-based services.

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