A10 Networks Inc. (ATEN) Stock: Price Performance Strategy to Monitor

A10 Networks Inc. (NYSE: ATEN), a provider of network technology to enable network and data centre security, released a report showing double-digit sales growth. Furthermore, statistics on cyber assaults indicate that A10 Networks has room to expand.

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A10 Networks’ revenue increased 14.3% year over year to $62.7 million in the quarter ended March 31, with core cybersecurity sales rising 20.1 percent. GAAP earnings grew by almost a quarter to $6.3 million, or $0.08 per share. The corporation paid $28.3 million for 2.1 million shares and paid a $0.05 per share quarterly dividend.

ATEN has significant sales in the North American market, which is seeing an increase in demand for data security technologies and IT infrastructure modernization solutions. The business aims to meet its sales growth objective of 10-12 percent in 2022, as well as a 26-28 percent rise in EBITDA.

A10 Networks offers a number of network infrastructure protection solutions, including those for critical infrastructure sites. The firm employs the zero trust (Zero Trust) concept, which is quickly becoming the industry standard in the data protection field.

ATEN, a threat intelligence research firm, has detected a considerable rise in cyberattacks. The number of DDoS cyberattacks has increased, and the use of applications for remote control of computing devices by malefactors has increased by more than 100 percent.

As a result, companies must now not only secure their IT infrastructure, but also guarantee that it does not become a weapon in the hands of hackers. A10 Networks Inc. (ATEN) can anticipate an increase in sales in this environment.

ATEN’s shares dropped -9.59 percent to $15.17 in the most recent trading session. The company’s shares were trading between $14.874 and $16.57. It traded 1.86 million shares, which was more than the 100-day average of 1.1 million shares.

The current dividend yield on the stock is 1.32 percent. It also has a price to earnings ratio of 12.78 and a price to book ratio of 5.64 at the moment. Furthermore, the price to cash flow ratio was 26.54.