A10 Networks (NYSE:ATEN) Cut to “Hold (C)” at Weiss Ratings

A10 Networks (NYSE:ATEN) was downgraded by equities researchers at Weiss Ratings from a “buy (b-)” rating to a “hold (c)” rating in a note issued to investors on Saturday,Weiss Ratings reports.

ATEN has been the subject of several other reports. Raymond James began coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a “market perform” rating for the company. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, May 2nd. Finally, StockNews.com cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, A10 Networks presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

A10 Networks Trading Up 1.5%

Shares of A10 Networks stock opened at $17.16 on Friday. The firm has a fifty day simple moving average of $16.81 and a 200-day simple moving average of $17.82. A10 Networks has a 1-year low of $12.27 and a 1-year high of $21.90. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.61 and a beta of 1.37.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. The business had revenue of $66.14 million during the quarter, compared to analysts’ expectations of $63.63 million. During the same period in the previous year, the company earned $0.17 earnings per share. A10 Networks’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts predict that A10 Networks will post 0.69 earnings per share for the current year.

Institutional Investors Weigh In On A10 Networks

Several institutional investors and hedge funds have recently bought and sold shares of ATEN. MassMutual Private Wealth & Trust FSB increased its holdings in A10 Networks by 3,389.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock valued at $38,000 after buying an additional 2,000 shares during the period. Vestcor Inc bought a new stake in A10 Networks in the 1st quarter valued at $44,000. GAMMA Investing LLC increased its holdings in A10 Networks by 43.5% in the 4th quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after buying an additional 744 shares during the period. Sunbelt Securities Inc. bought a new stake in A10 Networks in the 4th quarter valued at $50,000. Finally, CWM LLC increased its holdings in A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after buying an additional 1,454 shares during the period. 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.