A10 Networks (NYSE:ATEN) Price Target Raised to $24.00

A10 Networks (NYSE:ATEN) had its price objective hoisted by equities research analysts at BWS Financial from $17.00 to $24.00 in a report issued on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the communications equipment provider’s stock. BWS Financial’s target price would indicate a potential upside of 45.90% from the stock’s previous close.

ATEN has been the topic of several other research reports. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a report on Friday, November 8th. StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

A10 Networks Stock Down 0.7 %

NYSE:ATEN traded down $0.11 during mid-day trading on Wednesday, hitting $16.45. 21,718 shares of the stock traded hands, compared to its average volume of 716,514. The firm’s 50 day moving average is $14.42 and its two-hundred day moving average is $14.17. A10 Networks has a 52 week low of $11.83 and a 52 week high of $16.92. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.70 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $66.72 million during the quarter, compared to analysts’ expectations of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. As a group, research analysts predict that A10 Networks will post 0.65 EPS for the current year.

Insider Activity

In other news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the transaction, the executive vice president now owns 23,799 shares in the company, valued at $397,443.30. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.81% of the stock is owned by company insiders.

Institutional Trading of A10 Networks

Hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new position in shares of A10 Networks in the 2nd quarter valued at $29,000. Copeland Capital Management LLC acquired a new stake in shares of A10 Networks during the third quarter worth $43,000. Quarry LP bought a new position in shares of A10 Networks in the 2nd quarter worth about $47,000. Quantbot Technologies LP boosted its stake in A10 Networks by 95.4% during the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after acquiring an additional 2,762 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in A10 Networks in the second quarter worth approximately $105,000. Institutional investors and hedge funds 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.