Brokerages Set A10 Networks, Inc. (NYSE:ATEN) PT at $22.00

Shares of A10 Networks, Inc. (NYSE:ATEN) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.00.

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of A10 Networks in a research report on Wednesday, October 8th. BTIG Research raised A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Finally, Mizuho began coverage on shares of A10 Networks in a report on Monday, July 14th. They set a “neutral” rating on the stock.

A10 Networks Price Performance

Shares of ATEN opened at $17.96 on Thursday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 26.41 and a beta of 1.27. The firm’s fifty day simple moving average is $17.86 and its 200-day simple moving average is $17.83. A10 Networks has a twelve month low of $13.81 and a twelve month high of $21.90. 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 (NYSE:ATEN) last issued its earnings results 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 net margin of 18.45% and a return on equity of 25.46%. The firm had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Equities analysts forecast that A10 Networks will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the transaction, the chief financial officer owned 77,599 shares of the company’s stock, valued at approximately $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of A10 Networks by 0.5% during the first quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider’s stock worth $120,823,000 after purchasing an additional 34,634 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of A10 Networks by 56.2% during the second quarter. Penserra Capital Management LLC now owns 3,964,989 shares of the communications equipment provider’s stock worth $76,722,000 after purchasing an additional 1,425,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of A10 Networks by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,682,442 shares of the communications equipment provider’s stock worth $43,840,000 after purchasing an additional 202,453 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of A10 Networks by 22.1% during the third quarter. Boston Trust Walden Corp now owns 2,639,992 shares of the communications equipment provider’s stock worth $47,916,000 after purchasing an additional 477,196 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of A10 Networks by 12.4% during the second quarter. First Trust Advisors LP now owns 1,949,423 shares of the communications equipment provider’s stock worth $37,721,000 after purchasing an additional 214,778 shares during 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 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.