A10 Networks (ATEN) Issues Q4 Earnings Guidance
A10 Networks (NYSE:ATEN) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.05-0.06 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.03. The company issued revenue guidance of $55.5-56.0 million, compared to the consensus revenue estimate of $65.13 million.
Several research analysts have commented on the stock. Zacks Investment Research cut shares of A10 Networks from a buy rating to a hold rating in a research report on Monday, January 1st. BidaskClub upgraded shares of A10 Networks from a sell rating to a hold rating in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $9.13.
Shares of A10 Networks (ATEN) traded up $0.05 during trading hours on Tuesday, hitting $7.58. 342,500 shares of the stock were exchanged, compared to its average volume of 302,411. The firm has a market cap of $539.13, a price-to-earnings ratio of -31.58 and a beta of 1.14. A10 Networks has a 12 month low of $6.02 and a 12 month high of $9.94.
A10 Networks announced that its Board of Directors has authorized a share repurchase program on Thursday, October 26th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $7.53, for a total value of $188,250.00. Following the completion of the sale, the chief executive officer now owns 10,236,538 shares in the company, valued at approximately $77,081,131.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan S. Henricks sold 22,590 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $7.34, for a total transaction of $165,810.60. Following the completion of the sale, the director now owns 41,981 shares of the company’s stock, valued at approximately $308,140.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 378,803 shares of company stock valued at $2,891,349. Company insiders own 31.57% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “A10 Networks (ATEN) Issues Q4 Earnings Guidance” was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/01/16/a10-networks-aten-issues-q4-earnings-guidance.html.
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.
Receive News & Ratings for A10 Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for A10 Networks and related companies with MarketBeat.com's FREE daily email newsletter.