A10 Networks (NYSE:ATEN) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks (NYSE:ATEN) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $22.00 price target on the communications equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 14.77% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Friday, May 2nd. Raymond James Financial began coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a “market perform” rating on the stock. Wall Street Zen downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. BWS Financial restated a “buy” rating and issued a $24.00 price target on shares of A10 Networks in a research note on Friday, May 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of A10 Networks in a research note on Saturday, June 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, A10 Networks currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

A10 Networks Trading Up 0.6%

Shares of A10 Networks stock opened at $19.17 on Friday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 28.61 and a beta of 1.38. The company has a quick ratio of 3.87, a current ratio of 4.05 and a debt-to-equity ratio of 1.11. A10 Networks has a 12-month low of $12.27 and a 12-month high of $21.90. The firm’s 50-day moving average price is $17.41 and its two-hundred day moving average price is $18.14.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $66.14 million for the quarter, compared to the consensus estimate of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, analysts forecast that A10 Networks will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the sale, the general counsel now directly owns 61,007 shares in the company, valued at $1,052,980.82. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On A10 Networks

Several hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its position in A10 Networks by 1.8% during the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider’s stock worth $743,000 after buying an additional 783 shares during the period. Linden Thomas Advisory Services LLC boosted its position in A10 Networks by 7.9% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 963 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in A10 Networks by 3.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider’s stock worth $574,000 after buying an additional 1,010 shares during the period. Wedge Capital Management L L P NC boosted its position in A10 Networks by 1.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider’s stock worth $1,312,000 after buying an additional 1,295 shares during the period. Finally, Verity Asset Management Inc. raised its holdings in A10 Networks by 1.7% during the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider’s stock worth $1,334,000 after purchasing an additional 1,378 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

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.