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UPDATE: D.A. Davidson Upgrades A10 Networks On Recovering Fundamentals

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In a report published Friday, D.A. Davidson analyst Mark Kelleher upgraded the rating on A10 Networks Inc (NYSE: ATEN) from Neutral to Buy, and raised the price target from $5.00 to $6.00.

In the report, D.A. Davidson noted, “ATEN has struggled through 2014, missing consensus expectations with both the June and September results. In June, weakness in the Service Provider market in Japan impacted the quarter, while in September, weakness in North America, in both the Enterprise and Service Provider markets, significantly slowed year-over-year growth (Service Provider contribution in North America was down 55% Q2 to Q3). With the recent high-profile hacking attacks, we believe the importance of, and demand for, the company's high-speed DDoS threat prevention capabilities is increasing. In addition, we believe Service Provider spending, particularly in the US, will be consistent with normal seasonal trends in 2015. We would note that revenue guidance for Q4 is $41 - $45 million, with our estimate at $44 million and the consensus at $43 million.”

A10 Networks closed on Thursday at $5.18.

Latest Ratings for ATEN

DateFirmActionFromTo
Dec 2018UpgradesNeutralBuy
Mar 2018DowngradesBuyNeutral
Jul 2017MaintainsBuy

View More Analyst Ratings for ATEN
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Posted-In: D.A. Davidson Mark KelleherAnalyst Color Upgrades Analyst Ratings

 

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