BWS Financial Raises A10 Networks (NYSE:ATEN) Price Target to $24.00

A10 Networks (NYSE:ATEN) had its price target increased by investment analysts at BWS Financial from $17.00 to $24.00 in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. BWS Financial’s target price would indicate a potential upside of 44.49% from the stock’s previous close.

A number of other research analysts also recently issued reports on ATEN. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Friday, November 8th. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

A10 Networks Trading Down 0.4 %

Shares of NYSE ATEN traded down $0.07 during mid-day trading on Wednesday, reaching $16.61. 29,862 shares of the company’s stock were exchanged, compared to its average volume of 716,129. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 24.79 and a beta of 1.11. The business has a fifty day simple moving average of $14.29 and a 200 day simple moving average of $14.13. A10 Networks has a twelve month low of $11.83 and a twelve month high of $16.81.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data 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 the consensus estimate of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. A10 Networks’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. Equities research analysts predict that A10 Networks will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its holdings in A10 Networks by 9.4% in the 3rd quarter. Fisher Asset Management LLC now owns 99,243 shares of the communications equipment provider’s stock valued at $1,433,000 after acquiring an additional 8,533 shares in the last quarter. Algert Global LLC increased its stake in shares of A10 Networks by 11.4% in the 3rd quarter. Algert Global LLC now owns 455,998 shares of the communications equipment provider’s stock valued at $6,585,000 after purchasing an additional 46,776 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of A10 Networks by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 650,920 shares of the communications equipment provider’s stock valued at $9,399,000 after purchasing an additional 41,895 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of A10 Networks in the 3rd quarter valued at $284,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of A10 Networks by 0.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 248,491 shares of the communications equipment provider’s stock valued at $3,588,000 after purchasing an additional 1,413 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

A10 Networks Company Profile

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.