BTIG Research Upgrades A10 Networks (NYSE:ATEN) to "Buy"

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 analysts at BTIG Research from a "neutral" rating to a "buy" rating in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $22.00 price target on the communications equipment provider's stock. BTIG Research's price objective points to a potential upside of 26.44% from the stock's current price.

A number of other research analysts have also commented on ATEN. BWS Financial restated a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a research report on Saturday, August 2nd. Raymond James Financial started coverage on A10 Networks in a report on Wednesday, April 23rd. They issued a "market perform" rating on the stock. Finally, Mizuho initiated coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a "neutral" rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, A10 Networks presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Trading Down 2.5%

Shares of ATEN stock traded down $0.44 during trading hours on Wednesday, hitting $17.40. The company had a trading volume of 959,920 shares, compared to its average volume of 916,562. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 3.87. The company's fifty day moving average is $18.49 and its 200 day moving average is $18.18. A10 Networks has a fifty-two week low of $12.45 and a fifty-two week high of $21.90. The stock has a market capitalization of $1.26 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.09 and a beta of 1.35.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 25.46% and a net margin of 18.45%. The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. During the same period in the previous year, the company posted $0.18 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. Research analysts expect that A10 Networks will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the 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 transaction, the general counsel owned 61,007 shares of the company's stock, valued at $1,052,980.82. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Boston Trust Walden Corp acquired a new position in shares of A10 Networks during the first quarter valued at $26,894,000. Penserra Capital Management LLC boosted its holdings in shares of A10 Networks by 56.2% in the second quarter. Penserra Capital Management LLC now owns 3,964,989 shares of the communications equipment provider's stock valued at $76,722,000 after acquiring an additional 1,425,792 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of A10 Networks by 390.9% in the first quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock valued at $18,466,000 after acquiring an additional 899,919 shares in the last quarter. Invesco Ltd. increased its stake in shares of A10 Networks by 184.7% during the first quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock valued at $17,082,000 after acquiring an additional 678,207 shares during the period. Finally, Marshall Wace LLP raised its holdings in A10 Networks by 364.8% during the fourth quarter. Marshall Wace LLP now owns 683,711 shares of the communications equipment provider's stock worth $12,580,000 after purchasing an additional 536,600 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

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.