A10 Networks (ATEN) Stock Forecast & Price Target

A10 Networks Inc. is projected to see its revenue increase by 4% to $322.4 million in 2026, reflecting strong demand trends across both service provider and enterprise segments, which recorded growth rates of 8.5% and 8.1%, respectively. The company's security business is a key driver, constituting 72% of product revenue and experiencing a year-over-year growth of 35%, indicating a robust market position in cybersecurity solutions. Moreover, A10 Networks anticipates a revenue growth rate of over 12% compounded annually over the next three years, with adjusted EBITDA margins expected to remain strong at 28%-30%.

A10 Networks Inc is experiencing challenges as its legacy networking segment, which accounted for 28% of revenue in 2025, is projected to decline at a low single-digit rate over the next three years. The company’s infrastructure business is also facing significant headwinds, with growth retracting in the high single digits, exacerbated by a weak economic environment that could lead to deal delays and cancellations. Additionally, A10 Networks has notable exposure to large customers and the inherent lumpiness in service provider trends, which introduces further volatility to its revenue outlook.