A10 Networks Inc (ATEN) Reports Record Revenue Sending Stock Up Over 25%

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Shares of A10 Networks Inc (NYSE:ATEN) are up over 25% this morning after the company reported record revenue numbers for the Fourth Quarter of 2015. The company reported that they saw product revenue come in at $39.5 million, a year-over-year increase of 22 percent, and revenue as a whole come in at $56.6 million, an increase of 25 percent.

Additionally, A10 Networks Inc (NYSE:ATEN) added over 200 new customers for the quarter, and their customer-base now stands at more than 4,700.

“The fourth quarter was a strong close to the year and we are pleased with our momentum driven by our continued execution and innovation,” said Lee Chen, president and chief executive officer of A10 Networks. “Revenue in the fourth quarter exceeded our guidance and we achieved our third consecutive quarter of record revenue, while significantly improving our bottom line year-over-year. Our results this quarter were driven by a broad-based increase in demand across our ADC, CGN and TPS solutions. For the full year we added over 800 new customers, continued to expand our market opportunities and widened our technology leadership with innovations and industry firsts that map directly to some of the fastest growing networking and security market trends.”

The stock is up 26.02% or $1.28 following the news, hitting $6.2 per share. About 756,477 shares traded hands or up 146.89% from the average. ATEN has declined 15.90% since July 7, 2015 and is currently downtrending. It has underperformed the S&P500 by 6.42%.

From a total of 4 analysts covering A10 Networks (NYSE:ATEN) stock, 4 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $10 while the lowest target price is $7. The mean of all analyst targets is $9 which is 45.16% above today’s ($6.2) stock price. A10 Networks was the topic of 4 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. DA Davidson maintained shares on November 12 with a “Buy” rating. Dougherty & Company upgraded ATEN stock in a recent report from October 30 to a “Buy” rating.

A10 Networks, Inc. is a provider of advanced application networking technologies. The company has a market cap of $387.17 million. The Company’s products are built on its Advanced Core Operating System (ACOS). It currently has negative earnings. The Company’s offers three software advanced application networking solutions.

#focuskw=’A10 Networks Inc (NYSE:ATEN)’##metadesc=’Shares of A10 Networks Inc (NYSE:ATEN) are up over 25% this morning after the company reported record revenue numbers for the Fourth Quarter of 2015. The company reported that they saw product revenue come in at $39.5 million, a year-over-year increase of 22 percent, and revenue as a whole come in at $56.6 million, an increase of 25 percent.

Additionally, A10 Networks Inc (NYSE:ATEN) added over 200 new customers for the quarter, and their customer-base now stands at more than 4,700.

“The fourth quarter was a strong close to the year and we are pleased with our momentum driven by our continued execution and innovation,” said Lee Chen, president and chief executive officer of A10 Networks. “Revenue in the fourth quarter exceeded our guidance and we achieved our third consecutive quarter of record revenue, while significantly improving our bottom line year-over-year. Our results this quarter were driven by a broad-based increase in demand across our ADC, CGN and TPS solutions. For the full year we added over 800 new customers, continued to expand our market opportunities and widened our technology leadership with innovations and industry firsts that map directly to some of the fastest growing networking and security market trends.”

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