5 Undervalued Stocks to Buy Now

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

Number of Hedge Fund Holders: 14

PE Ratio: 12.87

Next up is A10 Networks, Inc. (NYSE:ATEN) which offers cybersecurity, cloud storage and enterprise solutions to customers around the world. A10 Networks, Inc. (NYSE:ATEN) shares have gained more than 100% since April 2020, trading at $16.19 on the New York Stock Exchange as of January 4. Cybersecurity firms, in particular A10 Networks, Inc. (NYSE:ATEN), are on a growth trajectory as businesses and governments around the globe face increasing risks of cyberattacks.

In the third quarter of 2021, A10 Networks, Inc. (NYSE:ATEN) reported earnings per share of $0.17, exceeding estimates by $0.03. Quarterly revenue of $65.36 million outperformed estimates by $2.86 million. 14 hedge funds were bullish on the company stock at the end of the third quarter, with combined positions worth $188.83 million. VIEX Capital Advisors is the leading shareholder of A10 Networks, Inc. (NYSE:ATEN) stock, with roughly 7.7 million shares worth $103.7 million.

In October, BWS Financial analyst Hamed Khorsand maintained a ‘Buy’ rating on A10 Networks, Inc. (NYSE:ATEN) shares, increasing the price target to $20 from $17. The company has made efforts to reorient its products and sales team towards security add-ons, and this has put the firm in a better position to meet the demands of the cybersecurity market. A10 Networks, Inc. (NYSE:ATEN)’s ADCs (Application Delivery Controllers) are becoming increasingly popular in data centers, resulting in record revenues for the company despite a competitive market.