A10 Networks Sets New 12-Month Low Following Weak Earnings (ATEN)
A10 Networks (NASDAQ:ATEN) shares hit a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement, Analyst Ratings Network reports. The company traded as low as $9.26 and last traded at $11.27, with a volume of 1,428,845 shares changing hands. The stock had previously closed at $12.93.
The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.08) by $0.01. The company had revenue of $45.10 million for the quarter, compared to the consensus estimate of $47.40 million. The company’s quarterly revenue was up 49.8% on a year-over-year basis.
A number of analysts have recently weighed in on ATEN shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of A10 Networks in a research note on Thursday. They now have a $15.00 price target on the stock, down previously from $18.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of A10 Networks in a research note on Thursday. They now have a $16.50 price target on the stock, down previously from $17.00. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of A10 Networks in a research note on Thursday. They now have a $14.00 price target on the stock, down previously from $18.00. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.69.
The stock’s 50-day moving average is $12.73 and its 200-day moving average is $12.80. The company’s market cap is $664.7 million.
A10 Networks, Inc (NASDAQ:ATEN) is a provider of advanced application networking technologies.
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