A10 Networks, Inc. (NYSE:ATEN) had its price objective lifted by investment analysts at DA Davidson to $9.00 in a report released on Friday, July 14th, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the communications equipment provider’s stock. DA Davidson’s price target indicates a potential upside of 42.63% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered A10 Networks from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. KeyCorp lowered A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.60.
A10 Networks (ATEN) opened at 6.31 on Friday. A10 Networks has a 12 month low of $6.09 and a 12 month high of $10.87. The stock’s 50 day moving average price is $7.38 and its 200-day moving average price is $8.38. The firm’s market capitalization is $372.48 million.
A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. A10 Networks had a negative return on equity of 20.33% and a negative net margin of 8.00%. The company had revenue of $53.69 million for the quarter, compared to analyst estimates of $52.99 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that A10 Networks will post ($0.08) EPS for the current fiscal year.
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In other A10 Networks news, VP Neil Wu Becker sold 5,156 shares of A10 Networks stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $6.50, for a total transaction of $33,514.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $8.26, for a total value of $206,500.00. Following the transaction, the chief executive officer now owns 10,786,538 shares of the company’s stock, valued at approximately $89,096,803.88. The disclosure for this sale can be found here. Insiders have sold 343,968 shares of company stock valued at $2,666,467 in the last quarter. 34.05% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATEN. Gotham Asset Management LLC bought a new position in shares of A10 Networks during the first quarter worth about $103,000. Campbell & CO Investment Adviser LLC acquired a new position in A10 Networks during the first quarter valued at $107,000. Airain ltd acquired a new position in A10 Networks during the first quarter valued at $112,000. KCG Holdings Inc. acquired a new position in A10 Networks during the first quarter valued at $115,000. Finally, A.R.T. Advisors LLC acquired a new position in A10 Networks during the fourth quarter valued at $112,000. Institutional investors and hedge funds own 57.00% of the company’s stock.
A10 Networks Company Profile
A10 Networks, Inc is a provider of software and hardware solutions. The Company’s solutions enable its customers to secure and optimize the performance of their data center and cloud applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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