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April 25, 2014
08:06 EDTATENA10 Networks Q1 results poised to beat expectations, says Oppenheimer
After conducting checks, Oppenheimer expects A10 to report stronger than expected Q1 results and provide strong guidance. The firm thinks the company may announce new partnerships that could contribute materially to its results. Oppenheimer keeps a $20 price target and Outperform rating on the shares.
News For ATEN From The Last 14 Days
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October 10, 2014
09:06 EDTATENF5 Networks checks indicate return to stable growth, says Janney Capital
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October 9, 2014
10:00 EDTATENOn The Fly: Analyst Downgrade Summary
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07:50 EDTATENBofA/Merrill says to buy A10 Networks despite negative pre-announcment
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06:31 EDTATENA10 Networks downgraded to Sector Perform from Outperform at Pacific Crest
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October 8, 2014
16:26 EDTATENOn The Fly: Closing Wrap
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10:45 EDTATENA10 Networks plunges after cutting Q3 revenue outlook
Shares of supplier of application network technologies A10 Networks (ATEN) are plunging after the company lowered its third quarter revenue outlook due to lower than anticipated bookings in North America and longer close cycles for deals. WHAT'S NEW: A10 cut its Q3 revenue guidance to $43M-$43.5M from $48M-$50M, missing analysts' $48.69M consensus. The company's President and Chief Executive Officer, Lee Chen, blamed the revenue expectations on lower than anticipated bookings in North America and prolonged close cycles for agreements awarded to the company. Still, Chen said that Q3 revenue throughout Japan was beating expectations, despite an unfavorable effect from currency exchange rates. Chen said that the company is still concentrating on enacting its strategy and is gaining market momentum with its A10 Thunder TPS solution. WHAT'S NOTABLE: During the company's second quarter earnings conference call on July 30, A10 said that it was anticipating a Q3 loss of (7c)-(9c), which was in-line with analysts' expectations of a (9c) loss. ANALYST OPINION: On October 2, Citigroup downgraded A10 to Neutral from Buy, saying that the Japan slowdown will decrease the company's overall revenue growth for multiple quarters. Citigroup reduced its price target on the stock to $9.50 from $15. PRICE ACTION: During morning trading, A10 fell $2.90 or 36.71% to $5.00. On March 21, A10's initial public offering was priced at $15, but the stock opened at $13.85. Since its IPO, A10 shares have decreased over 68%.
10:08 EDTATENA10 Networks cuts Q3 revenue view to $43M-$43.5M from $48M-$50M
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