A10 Networks (NYSE:ATEN) Stock Lifted to “Strong-Buy” by Wall Street Zen

Wall Street Zen upgraded shares of A10 Networks (NYSE:ATEN) from a hold rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Weiss Ratings raised A10 Networks from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, November 9th. Mizuho reduced their price objective on A10 Networks from $34.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. Deutsche Bank started coverage on A10 Networks in a report on Monday, August 31st. They issued a “hold” rating and a $28.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and set a $45.00 target price on shares of A10 Networks in a research note on Friday, August 14th. Finally, BTIG Research reaffirmed a “buy” rating and set a $37.00 target price on shares of A10 Networks in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.38.

A10 Networks Price Performance

ATEN stock traded down $0.70 during trading on Friday, hitting $28.59. The stock had a trading volume of 1,864,866 shares, compared to its average volume of 1,124,976. A10 Networks has a twelve month low of $16.52 and a twelve month high of $38.49. The company’s 50-day moving average price is $26.23 and its two-hundred day moving average price is $26.86. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.46 and a quick ratio of 3.19. The stock has a market capitalization of $2.06 billion, a P/E ratio of 43.33, a PEG ratio of 2.17 and a beta of 0.99.

A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, November 5th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $91.55 million during the quarter, compared to analysts’ expectations of $83.88 million. A10 Networks had a return on equity of 25.35% and a net margin of 14.66%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts predict that A10 Networks will post 0.84 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 16th. A10 Networks’s dividend payout ratio (DPR) is 36.36%.

Insider Buying and Selling at A10 Networks

In other news, Director Dana Wolf sold 2,652 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $25.65, for a total value of $68,023.80. Following the completion of the sale, the director directly owned 57,409 shares in the company, valued at $1,472,540.85. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On A10 Networks

A number of institutional investors have recently added to or reduced their stakes in ATEN. BlackRock Inc. purchased a new stake in A10 Networks in the 2nd quarter valued at $506,919,000. Walleye Capital LLC purchased a new position in shares of A10 Networks during the 1st quarter worth $115,600,000. First Trust Advisors LP raised its holdings in shares of A10 Networks by 2.1% during the 3rd quarter. First Trust Advisors LP now owns 3,313,243 shares of the communications equipment provider’s stock worth $89,822,000 after acquiring an additional 68,504 shares during the period. State Street Corp boosted its position in shares of A10 Networks by 1.7% during the 3rd quarter. State Street Corp now owns 3,135,419 shares of the communications equipment provider’s stock valued at $85,001,000 after acquiring an additional 52,788 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of A10 Networks by 24.9% during the 3rd quarter. Boston Trust Walden Corp now owns 3,018,750 shares of the communications equipment provider’s stock valued at $81,838,000 after acquiring an additional 601,942 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 application delivery and cybersecurity solutions for enterprises, service providers and cloud providers. Its products are designed to help organizations maintain the availability, performance and security of applications and network services. The company’s portfolio includes application delivery controllers, distributed denial-of-service (DDoS) protection, network firewalls, and tools for encrypted-traffic visibility and management. These solutions are offered as physical appliances, software and cloud-based services.