A10 Networks, Inc. (NYSE:ATEN) Receives Average Recommendation of “Hold” from Analysts

Shares of A10 Networks, Inc. (NYSE:ATEN) have received an average rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $31.2857.

A number of equities research analysts have issued reports on the company. Zacks Research cut A10 Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Mizuho boosted their price objective on shares of A10 Networks from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Piper Sandler set a $45.00 price objective on shares of A10 Networks in a report on Tuesday, June 16th. Finally, Sidoti reiterated a “neutral” rating and issued a $24.00 target price on shares of A10 Networks in a research note on Monday, April 20th.

A10 Networks Stock Performance

Shares of NYSE ATEN opened at $29.54 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.56 and a current ratio of 3.71. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 47.65 and a beta of 1.14. The business’s 50-day simple moving average is $33.65 and its 200-day simple moving average is $26.36. A10 Networks has a 52 week low of $16.52 and a 52 week high of $38.49.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. A10 Networks had a return on equity of 25.00% and a net margin of 14.90%.The business had revenue of $75.00 million for the quarter, compared to the consensus estimate of $72.61 million. During the same period last year, the business earned $0.20 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that A10 Networks will post 0.83 earnings per share for the current fiscal year.

Insider Transactions at A10 Networks

In other A10 Networks news, Director Eric Singer sold 24,698 shares of A10 Networks stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $27.21, for a total value of $672,032.58. Following the transaction, the director directly owned 68,806 shares of the company’s stock, valued at $1,872,211.26. The trade was a 26.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On A10 Networks

Hedge funds have recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in shares of A10 Networks in the first quarter worth $115,600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in A10 Networks by 1.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,699,629 shares of the communications equipment provider’s stock valued at $48,997,000 after purchasing an additional 35,381 shares during the last quarter. First Trust Advisors LP raised its stake in A10 Networks by 21.1% during the 4th quarter. First Trust Advisors LP now owns 2,463,337 shares of the communications equipment provider’s stock valued at $43,576,000 after purchasing an additional 429,066 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in A10 Networks by 11.2% in the 2nd quarter. Boston Trust Walden Corp now owns 2,416,808 shares of the communications equipment provider’s stock valued at $90,292,000 after purchasing an additional 243,547 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in A10 Networks by 40.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,054,213 shares of the communications equipment provider’s stock valued at $37,284,000 after purchasing an additional 588,922 shares during the period. 98.61% of the stock is owned by institutional investors.

A10 Networks Company Profile

A10 Networks, Inc (NYSE: ATEN), headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company’s offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company’s core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.