A10 Networks (NYSE:ATEN) Raised to Buy at StockNews.com

A10 Networks (NYSE:ATEN) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, BWS Financial restated a “buy” rating and set a $17.00 target price on shares of A10 Networks in a research note on Tuesday, July 9th.

A10 Networks Stock Performance

Shares of ATEN stock opened at $14.61 on Wednesday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 23.95 and a beta of 1.11. The stock’s 50 day simple moving average is $13.65 and its 200 day simple moving average is $13.92. A10 Networks has a twelve month low of $10.55 and a twelve month high of $16.46.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $60.10 million during the quarter, compared to the consensus estimate of $64.30 million. A10 Networks had a net margin of 17.51% and a return on equity of 21.29%. A10 Networks’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, analysts forecast that A10 Networks will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On A10 Networks

Institutional investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its holdings in shares of A10 Networks by 20.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 94,064 shares of the communications equipment provider’s stock worth $1,358,000 after purchasing an additional 16,128 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in A10 Networks by 11.6% in the third quarter. Exchange Traded Concepts LLC now owns 127,476 shares of the communications equipment provider’s stock worth $1,841,000 after purchasing an additional 13,272 shares during the period. Quarry LP bought a new stake in A10 Networks in the 2nd quarter valued at $47,000. Algert Global LLC increased its holdings in A10 Networks by 161.6% in the 2nd quarter. Algert Global LLC now owns 409,222 shares of the communications equipment provider’s stock valued at $5,668,000 after buying an additional 252,816 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in A10 Networks by 15.6% in the 2nd quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after buying an additional 6,217 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

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.