Dougherty & Co Upgrades A10 Networks (ATEN) to Buy

Dougherty & Co upgraded A10 Networks (NYSE: ATEN) from Neutral to Buy with a price target of $8. Analyst Catharine Trebnick noted two consecutive quarters of execution and positive catalyst on the horizon.

"We are upgrading our rating of ATEN shares to a Buy and giving a PT of $8 as result of the company's overall improvements including: (1) Improved and consistent execution in the channel as evidence by solid performance across all geographies and products. (2) Diversified customer base with a broad range of customers ranging from hosting companies, to government entities, to financial institutions in the enterprise segment. (3) Focus on winning smaller deals with the mid-market showing results by driving a shorter cycle and supporting the recent step up in revenue gains. (4) The company plans to be operating margin positive in 2016. Our PT is based on 1.8x EV/2016 sales," said Trebnick.

For an analyst ratings summary and ratings history on A10 Networks click here. For more ratings news on A10 Networks click here.

Shares of A10 Networks closed at $5.86 yesterday.

You May Also Be Interested In

• Craig-Hallum Upgrades Backblaze Inc (BLZE) to Buy
• William Blair Upgrades Backblaze Inc (BLZE) to Market Perform
• American Airlines (AAL) PT Raised to $21 at UBS Ahead of Q2 Earnings