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A10 Network (ATEN)



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Upturn Advisory Summary
03/27/2025: ATEN (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -6.65% | Avg. Invested days 39 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.23B USD | Price to earnings Ratio 24.81 | 1Y Target Price 22.75 |
Price to earnings Ratio 24.81 | 1Y Target Price 22.75 | ||
Volume (30-day avg) 1504950 | Beta 1.17 | 52 Weeks Range 12.13 - 21.89 | Updated Date 04/1/2025 |
52 Weeks Range 12.13 - 21.89 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 1.47% | Basic EPS (TTM) 0.67 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 19.16% | Operating Margin (TTM) 24.79% |
Management Effectiveness
Return on Assets (TTM) 6.68% | Return on Equity (TTM) 22.81% |
Valuation
Trailing PE 24.81 | Forward PE 18.8 | Enterprise Value 1025101760 | Price to Sales(TTM) 4.73 |
Enterprise Value 1025101760 | Price to Sales(TTM) 4.73 | ||
Enterprise Value to Revenue 4.03 | Enterprise Value to EBITDA 19.08 | Shares Outstanding 73952600 | Shares Floating 72763718 |
Shares Outstanding 73952600 | Shares Floating 72763718 | ||
Percent Insiders 1.18 | Percent Institutions 91.25 |
Analyst Ratings
Rating 3.75 | Target Price 21.67 | Buy 1 | Strong Buy 1 |
Buy 1 | Strong Buy 1 | ||
Hold 2 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
A10 Network

Company Overview
History and Background
A10 Networks was founded in 2004. It went public in 2014. A10 focuses on providing secure application services and security solutions.
Core Business Areas
- Security Solutions: Provides solutions for DDoS protection, SSL/TLS inspection, and web application firewalls.
- Application Delivery: Offers application delivery controllers (ADCs) to optimize application performance and availability.
- 5G Solutions: Provides solutions that enable network operators to deliver secure, scalable, and reliable 5G services.
Leadership and Structure
The CEO is Dhrupad Trivedi. A10 Networks has a typical corporate structure with departments for sales, marketing, engineering, and finance.
Top Products and Market Share
Key Offerings
- Thunder ADC: Application Delivery Controller that optimizes application performance and availability. Competitors: F5 Networks, Citrix. Market share data is difficult to source specifically, but A10 is a significant player in the ADC market. Specific revenue from this product is not publicly broken out.
- Thunder TPS: Threat Protection System that provides DDoS protection. Competitors: Arbor Networks (now Netscout), Radware. Market share data is difficult to source specifically, but A10 is a significant player in the DDoS protection market. Specific revenue from this product is not publicly broken out.
- Harmony Controller: Centralized management and analytics platform for A10's application delivery and security solutions. Competitors: F5 BIG-IQ, Citrix ADM. Market share data is difficult to source specifically, but A10 is a significant player in the central management marketplace. Specific revenue from this product is not publicly broken out.
Market Dynamics
Industry Overview
The market for application delivery and security solutions is driven by the increasing complexity of applications, the growing threat of cyberattacks, and the need for optimized application performance and availability.
Positioning
A10 Networks is positioned as a provider of secure application services with a focus on performance, security, and scalability. They compete with larger companies but also focus on specific niches. They are especially focused on 5G application infrastructure and security.
Total Addressable Market (TAM)
The TAM for application delivery and security is estimated to be in the billions of dollars annually. A10 is positioned to capture a portion of this market through its product offerings and strategic partnerships. The 5G infrastructure market is also significant and growing.
Upturn SWOT Analysis
Strengths
- Strong technology in application delivery and security
- Focus on high-growth markets like 5G
- Established customer base
- Innovation in security technologies
Weaknesses
- Smaller size compared to major competitors
- Limited brand recognition compared to market leaders
- Dependence on specific industries or customers
Opportunities
- Expanding into new geographic markets
- Developing new products and services
- Forming strategic partnerships
- Capitalizing on the growing demand for security solutions
- Growing demand for 5G infrastructure security
Threats
- Intense competition from larger players
- Rapid technological changes
- Economic downturns
- Evolving cyber threats
Competitors and Market Share
Key Competitors
- F5
- CSCO
- RADW
Competitive Landscape
A10 Networks competes with larger companies like F5 and Cisco. Its advantages include its focus on specific niches and its strong technology. Its disadvantages include its smaller size and limited brand recognition.
Major Acquisitions
Appcito
- Year: 2016
- Acquisition Price (USD millions): 32
- Strategic Rationale: Enhanced A10's cloud-based application delivery capabilities.
Growth Trajectory and Initiatives
Historical Growth: Growth has been variable, with periods of strong growth followed by periods of slower growth. Consult financial resources for specific growth rates.
Future Projections: Analyst estimates vary, but generally project continued growth in revenue and earnings. Consult financial resources for specific analyst estimates.
Recent Initiatives: Recent initiatives include expanding its product portfolio, forming strategic partnerships, and focusing on high-growth markets like 5G.
Summary
A10 Networks is a mid-sized player in the application delivery and security market with solid technology. Focus on 5G is a key differentiator. It needs to contend with larger competitors and expand its brand awareness to achieve sustained growth and profitability. Recent initiatives are crucial for maintaining momentum in a competitive landscape.
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Sources and Disclaimers
Data Sources:
- Company website
- SEC filings
- Analyst reports
- Industry publications
- Financial news sources
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market share data is approximate and may vary. Financial data is dynamic and should be verified through official sources.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About A10 Network
Exchange NYSE | Headquaters San Jose, CA, United States | ||
IPO Launch date 2014-03-21 | Board Chair, President & CEO Mr. Dhrupad Trivedi Ph.D. | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 481 | Website https://www.a10networks.com |
Full time employees 481 | Website https://www.a10networks.com |
A10 Networks, Inc. provides security and infrastructure solutions in the United States, rest of the Americas, Japan, rest of the Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package. It also provides A10 Control that provides intelligent management, automation, and analytics for secure application delivery. In addition, the company offers A10 Defend Threat Control, a standalone SaaS platform; A10 Defend Orchestrator, which provides a centralized point of control for seamless distributed denial of service (DDoS) defense management and execution; A10 Defend Detector, a DDoS detector used to easily manage the scale and heterogenous nature of SP networks; A10 Defend Mitigator, a DDoS mitigation solution; and A10 Defend ThreatX Protect, a cloud-based web application and application programming interfaces protection solution. It delivers its solutions in hardware appliances, bare metal software, containerized software, virtual appliances, and cloud-native software forms. The company serves cloud, telecommunications, multiple system, and cable service providers; government organizations; and enterprises in the telecommunications, technology, industrial, government, retail, financial, gaming, and education industries. It sells its products through sales organizations; and distributors, value added resellers, and system integrators. A10 Networks, Inc. was incorporated in 2004 and is headquartered in San Jose, California.
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