A10 Networks (NYSE:ATEN) Stock Rating Upgraded by Craig Hallum

A10 Networks (NYSE:ATEN) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat reports. The firm presently has a $20.00 target price on the communications equipment provider’s stock. Craig Hallum’s price target suggests a potential upside of 22.17% from the company’s previous close.

ATEN has been the subject of a number of other reports. BWS Financial restated a “buy” rating and issued a $24.00 target price on shares of A10 Networks in a research report on Wednesday, February 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of A10 Networks in a research note on Saturday, April 26th. Raymond James initiated coverage on A10 Networks in a report on Wednesday, April 23rd. They set a “market perform” rating on the stock. Finally, StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

A10 Networks Stock Performance

NYSE:ATEN opened at $16.37 on Friday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 24.43 and a beta of 1.37. A10 Networks has a 1 year low of $12.27 and a 1 year high of $21.90. The business has a fifty day moving average of $17.15 and a 200-day moving average of $17.71.

A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $66.14 million during the quarter, compared to analyst estimates of $63.63 million. During the same quarter in the prior year, the firm posted $0.17 EPS. A10 Networks’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that A10 Networks will post 0.69 EPS for the current year.

Hedge Funds Weigh In On A10 Networks

A number of institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of A10 Networks by 3,389.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after buying an additional 2,000 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 744 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in A10 Networks in the 4th quarter worth approximately $50,000. CWM LLC grew its position in A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock worth $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, KBC Group NV raised its stake in A10 Networks by 79.1% during the 4th quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider’s stock valued at $94,000 after purchasing an additional 2,251 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

About A10 Networks

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.