BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Independent Stock Specific Research

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Equity Bottom-Up

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A10 Networks (ATEN) is benefiting from service providers and enterprises putting cybersecurity as a priority and in doing so has diversified its customer base. Network breaches have become a headline grabbing event this year, which leads to customers making prevention an urgency.</li></ul> <ul type="disc"><li>ATEN reported third quarter revenue of $65.4 million compared to $56.6 million in the year ago period. The revenue performance exceeded our estimate of $63.1 million as we had been expecting revenue growth to remain subdued since ATEN is undergoing a transition to subscription revenue model.</li></ul> <ul type="disc"><li>ATEN was laying the groundwork for the current performance four quarters ago when the Company changed its sales and marketing strategy.</li></ul> <ul type="disc"><li>ATEN revamped its product offering two years ago with a focus to tailor the business more towards software. The subscription model has resulted in ATEN’s long-term deferred revenue rising to $46.6 million compared to $40.1 million in the year ago period.</li></ul> <ul type="disc"><li>Our price target is now $20 from $17.</li></ul>


A10 Networks (ATEN) is benefiting from service providers and enterprises putting cybersecurity as a priority and in doing so has diversified its customer base. Network breaches have become a headline grabbing event this year, which leads to customers making prevention an urgency. ATEN reported third quarter revenue of $65.4 million compared to $56.6 million in the year ago period. The revenue performance exceeded our estimate of $63.1 million as we had been expecting revenue growth to remain subdued since ATEN is undergoing a transition to subscription revenue model. ATEN was laying the groundwork for the current performance four quarters ago when the Company changed its sales and marketing strategy. ATEN revamped its product offering two years ago with a focus to tailor the business more towards software. The subscription model has resulted in ATEN’s long-term deferred revenue rising to $46.6 million compared to $40.1 million in the year ago period. Our price target is now $20 from $17.

A10 Networks

ATEN: Momentum in Revenue, PT to $20