Analysts Anticipate A10 Networks Inc (ATEN) Will Post Quarterly Sales of $64.76 Million

Analysts expect that A10 Networks Inc (NYSE:ATEN) will post $64.76 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for A10 Networks’ earnings, with the lowest sales estimate coming in at $64.50 million and the highest estimate coming in at $65.01 million. A10 Networks reported sales of $64.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The company is scheduled to issue its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that A10 Networks will report full-year sales of $64.76 million for the current year, with estimates ranging from $239.90 million to $240.41 million. For the next year, analysts anticipate that the firm will report sales of $256.72 million per share, with estimates ranging from $255.00 million to $259.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover A10 Networks.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $59.46 million. A10 Networks had a negative net margin of 6.94% and a negative return on equity of 17.63%. The firm’s revenue was up 11.4% compared to the same quarter last year.

A number of analysts recently commented on the stock. BidaskClub upgraded shares of A10 Networks from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Zacks Investment Research upgraded shares of A10 Networks from a “strong sell” rating to a “hold” rating and set a $8.50 price target on the stock in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.13.

Shares of A10 Networks (NYSE:ATEN) traded down $0.18 during mid-day trading on Friday, hitting $7.74. 266,400 shares of the company were exchanged, compared to its average volume of 489,604. A10 Networks has a 12 month low of $6.02 and a 12 month high of $9.94.

A10 Networks announced that its board has initiated a stock buyback program on Thursday, October 26th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other A10 Networks news, EVP Raymond J. Smets sold 13,890 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $7.53, for a total value of $104,591.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Lee Chen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $7.76, for a total transaction of $194,000.00. Following the completion of the sale, the chief executive officer now owns 10,061,538 shares in the company, valued at $78,077,534.88. The disclosure for this sale can be found here. Insiders sold a total of 357,638 shares of company stock worth $2,694,749 over the last quarter. Corporate insiders own 31.57% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stoneridge Investment Partners LLC bought a new position in shares of A10 Networks in the 3rd quarter worth $109,000. Capital Fund Management S.A. bought a new position in shares of A10 Networks in the 2nd quarter worth $149,000. Voya Investment Management LLC increased its holdings in shares of A10 Networks by 21.2% in the 2nd quarter. Voya Investment Management LLC now owns 22,826 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 3,994 shares during the last quarter. US Bancorp DE increased its holdings in shares of A10 Networks by 45.2% in the 2nd quarter. US Bancorp DE now owns 23,147 shares of the communications equipment provider’s stock worth $196,000 after buying an additional 7,208 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of A10 Networks by 59.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 24,450 shares of the communications equipment provider’s stock worth $206,000 after buying an additional 9,154 shares during the last quarter. Institutional investors and hedge funds own 57.80% of the company’s stock.

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About A10 Networks

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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