BWS Financial Remains Bullish on A10 Networks (ATEN)

A10 Networks, Inc. (NYSE:ATEN) is one of the best small cap stocks to buy for 10x potential. BWS Financial lifted the price target on A10 Networks, Inc. (NYSE:ATEN) to $30 from $28 on April 29, reiterating a Buy rating on the shares. The firm told investors in a research note that the company’s fiscal Q1 revenue grew by 13% primarily due to a large order from an existing customer. It attributed the post-earnings selloff to the company not raising its annual guidance and also cited the potential for its sales growth to top the outlook for the target bump.

A10 Networks, Inc. (NYSE:ATEN) also received a rating update from BTIG the same day. The firm lifted the price target on the stock to $30 from $22, reiterating a Buy rating on the shares. The firm released the rating update after the company reported very strong fiscal Q1 results, stating that A10 Networks, Inc. (NYSE:ATEN) is benefiting from an AI infrastructure buildout cycle and increased traffic volumes, which, in turn, is raising the significance of latency, throughput, and concurrency within network architectures. BTIG further told investors in a research note that it believes customers are buying more capacity because AI traffic and attack volumes are rapidly increasing and driving refresh activity.

A10 Networks, Inc. (NYSE:ATEN) provides networking solutions, offering security, hybrid cloud, vertical solutions, service providers, and mobile carriers. The company’s operations are divided into the following geographical segments: Americas, Asia-Pacific and Japan (APJ), and Europe, the Middle East, and Africa (EMEA).

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.