A10 Networks (NYSE:ATEN) Upgraded by BTIG Research to Buy Rating

Key Points

• BTIG Research has upgraded A10 Networks from a "neutral" rating to a "buy" rating, setting a target price of $22.00, indicating a potential upside of 23.53% from its previous close.
• Analysts have a consensus rating of "Moderate Buy" for A10 Networks, with **three** holding a "hold" rating and **four** giving a "buy" rating.
• A10 Networks reported earnings of $0.21 EPS for the last quarter, surpassing analysts' expectations and showing a revenue increase of **15.5%** year-over-year.

A10 Networks (NYSE:ATEN - Get Free Report) was upgraded by investment analysts at BTIG Research from a "neutral" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat reports. The brokerage presently has a $22.00 price objective on the communications equipment provider's stock. BTIG Research's target price would suggest a potential upside of 26.44% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of A10 Networks from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Craig Hallum raised shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of A10 Networks in a research report on Friday, May 2nd. Finally, Mizuho began coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks Price Performance

Shares of NYSE:ATEN traded down $0.44 during trading on Wednesday, hitting $17.40. 959,920 shares of the stock were exchanged, compared to its average volume of 916,562. The company has a market cap of $1.26 billion, a PE ratio of 25.59, a P/E/G ratio of 4.00 and a beta of 1.35. The company has a current ratio of 4.23, a quick ratio of 3.87 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average price of $18.49 and a two-hundred day moving average price of $18.17. A10 Networks has a 12-month low of $12.45 and a 12-month high of $21.90.

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

Insider Activity

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the sale, the general counsel owned 61,007 shares of the company's stock, valued at $1,052,980.82. The trade was a 3.94% decrease in their ownership of the stock. The sale 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 company insiders.

Institutional Trading of A10 Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in A10 Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock valued at $6,806,000 after buying an additional 12,282 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of A10 Networks in the first quarter worth $295,000. Squarepoint Ops LLC raised its stake in shares of A10 Networks by 363.8% in the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock valued at $2,206,000 after purchasing an additional 94,032 shares in the last quarter. GAMMA Investing LLC lifted its holdings in A10 Networks by 1,938.5% during the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock worth $818,000 after buying an additional 47,610 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in A10 Networks by 98.7% during the first quarter. Allianz Asset Management GmbH now owns 197,881 shares of the communications equipment provider's stock worth $3,233,000 after purchasing an additional 98,293 shares during the last quarter. 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.