A10 Networks Inc. (ATEN) Rating Lowered to Neutral at DA Davidson
A10 Networks Inc. (NYSE:ATEN) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They presently have a $11.50 price objective on the stock. DA Davidson’s price target would suggest a potential upside of 8.08% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts have also recently issued research reports about the stock. Dougherty & Co upped their target price on shares of A10 Networks from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 29th. Zacks Investment Research upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $9.00 price objective (up previously from $8.00) on shares of A10 Networks in a research report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. A10 Networks presently has an average rating of “Buy” and an average price target of $9.17.
Shares of A10 Networks (NYSE:ATEN) opened at 10.64 on Wednesday. The firm’s market cap is $628.08 million. A10 Networks has a 12 month low of $4.84 and a 12 month high of $10.87. The firm has a 50 day moving average price of $10.08 and a 200-day moving average price of $7.49.
A10 Networks (NYSE:ATEN) last issued its earnings results on Thursday, July 28th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company earned $57.10 million during the quarter, compared to analysts’ expectations of $56.07 million. A10 Networks had a negative net margin of 14.10% and a negative return on equity of 37.97%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) EPS. On average, analysts predict that A10 Networks will post ($0.09) EPS for the current fiscal year.
In other A10 Networks news, VP Robert D. Cochran sold 7,000 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $9.91, for a total transaction of $69,370.00. Following the completion of the transaction, the vice president now owns 146,728 shares in the company, valued at approximately $1,454,074.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert D. Cochran sold 25,000 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $7.86, for a total value of $196,500.00. Following the transaction, the vice president now owns 153,728 shares of the company’s stock, valued at approximately $1,208,302.08. The disclosure for this sale can be found here. Company insiders own 34.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ATEN. American International Group Inc. boosted its position in A10 Networks by 27.8% in the second quarter. American International Group Inc. now owns 25,374 shares of the company’s stock worth $164,000 after buying an additional 5,514 shares during the period. Bank of Montreal Can purchased a new position in A10 Networks during the second quarter worth about $183,000. Dynamic Technology Lab Private Ltd boosted its position in A10 Networks by 3.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 35,819 shares of the company’s stock worth $232,000 after buying an additional 1,312 shares during the period. BlackRock Group LTD boosted its position in A10 Networks by 181.1% in the second quarter. BlackRock Group LTD now owns 38,450 shares of the company’s stock worth $249,000 after buying an additional 24,772 shares during the period. Finally, Rhumbline Advisers boosted its position in A10 Networks by 21.0% in the second quarter. Rhumbline Advisers now owns 39,197 shares of the company’s stock worth $254,000 after buying an additional 6,810 shares during the period. Hedge funds and other institutional investors own 46.70% of the company’s stock.
A10 Networks Company Profile
A10 Networks, Inc is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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