Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on A10 Networks (ATEN – Research Report) and keeping the price target at $24.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Hamed Khorsand has given his Buy rating due to a combination of factors including strong financial performance and growth potential. A10 Networks reported impressive fourth quarter results for 2024, exceeding expectations primarily due to increased purchases from North American service providers. This is noteworthy as this sector had previously been a challenge for the company, with inconsistent spending patterns.
The company achieved revenue of $74.2 million, surpassing the estimated $70.7 million, driven by higher product sales. The resurgence in revenue growth has positively impacted A10’s stock, and the company’s ability to generate earnings and maintain positive free cash flow suggests a continued upward trend in stock value throughout the year.
Khorsand covers the Technology sector, focusing on stocks such as Adeia, Immersion, and Innodata. According to TipRanks, Khorsand has an average return of 9.6% and a 52.45% success rate on recommended stocks.