A10 Networks (NYSE:ATEN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

A10 Networks (NYSE:ATEN) issued its quarterly earnings results on Tuesday. The communications equipment provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01, Briefing.com reports. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The company had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $64.30 million. During the same quarter in the previous year, the company earned $0.14 EPS. A10 Networks’s revenue was down 8.7% on a year-over-year basis.

A10 Networks Stock Down 10.1 %

Shares of ATEN stock traded down $1.44 during trading on Wednesday, reaching $12.77. The company’s stock had a trading volume of 208,691 shares, compared to its average volume of 766,256. The company has a market cap of $950.85 million, a price-to-earnings ratio of 21.18 and a beta of 1.12. A10 Networks has a one year low of $10.03 and a one year high of $16.46. The business has a fifty day moving average price of $14.05 and a 200-day moving average price of $13.89.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ATEN. StockNews.com cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. BWS Financial reissued a “buy” rating and set a $17.00 price objective on shares of A10 Networks in a research note on Tuesday, July 9th. Finally, Craig Hallum lifted their price target on shares of A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st.

Insider Buying and Selling

In related news, Director Peter Y. Chung sold 3,296,047 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the transaction, the director now directly owns 619,166 shares in the company, valued at $9,535,156.40. The sale was disclosed in a filing with the SEC, which is available through this link. 5.81% of the stock is owned by corporate insiders.

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.