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

A10 Networks (NYSE:ATEN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, BWS Financial reissued a “buy” rating and set a $17.00 price objective on shares of A10 Networks in a report on Tuesday, July 9th.

A10 Networks Stock Performance

ATEN stock opened at $14.73 on Wednesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.15 and a beta of 1.11. A10 Networks has a fifty-two week low of $10.55 and a fifty-two week high of $16.46. The stock has a fifty day moving average of $13.74 and a 200-day moving average of $13.93.

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

Institutional Trading of A10 Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new stake in shares of A10 Networks in the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in shares of A10 Networks during the 2nd quarter valued at about $47,000. nVerses Capital LLC purchased a new position in shares of A10 Networks during the 2nd quarter valued at about $105,000. Meeder Asset Management Inc. purchased a new position in shares of A10 Networks during the 2nd quarter valued at about $137,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of A10 Networks during the 2nd quarter valued at about $148,000. 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.