A10 Networks initiated with a Neutral at BTIG

BTIG initiated coverage of A10 Networks with a Neutral rating and no price target. In the current economic environment, the firm is cautious on businesses that rely on appliance sales, since it has consistently heard commentary about refresh delays in its fieldwork since the beginning of 2023. A10 also tends to be more focused on larger telecom / service provider deals, which could prove more volatile in the current environment, the analyst tells investors in a research note. BTIG cites uncertain economic conditions for the Neutral rating.