13 Most Undervalued Cybersecurity Stocks to Buy Now

11. A10 Networks, Inc. (NYSE:ATEN)

Number of Hedge Fund Holders: 24

Forward P/E Ratio: 21x

A10 Networks, Inc. (NYSE:ATEN) is one of the most undervalued cybersecurity stocks to buy now. On August 6, BTIG upgraded their rating on A10 Networks, Inc. (NYSE:ATEN) from Neutral to Buy. The upgrade comes on the back of stellar Q2 results, which beat consensus. The cybersecurity company reported a revenue of $69.38 million, a growth of over 15% on a year-over-year basis. Analysts had penciled in a revenue of $69.38 million. The company’s EPS stood at $0.21 per share as against a consensus estimate of $0.193 per share. A10’s net margin remains elevated at 15.19%.

BTIG set the price target at $22, a 23% implied upside from the current price of $17.88. The analyst said that the company is growing confident that it will continue to grow at a decent pace. It’s revenue is expected to grow at high-single digits this year, and “the possibility of crossing double-digit territory”, the analyst said. The analyst also increased his revenue estimate for the company by 2 percentage points citing that better execution in the last 4 quarters.

A10 Networks, Inc. (NYSE:ATEN) provides security application delivery and network infrastructure for edge cloud computing, hybrid cloud and on premises environments.