BMO Capital Markets Lowers N-able (NYSE:NABL) Price Target to $13.50

N-able (NYSE:NABL) had its target price lowered by BMO Capital Markets from $14.00 to $13.50 in a research report report published on Friday morning, Marketbeat.com reports. BMO Capital Markets currently has a market perform rating on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of N-able in a research note on Friday, August 9th.

N-able Price Performance

NABL stock opened at $11.15 on Friday. The firm has a 50 day moving average of $12.53 and a 200-day moving average of $13.20. The company has a current ratio of 3.01, a quick ratio of 2.97 and a debt-to-equity ratio of 0.43. N-able has a 12 month low of $11.12 and a 12 month high of $15.48. The firm has a market capitalization of $2.07 billion, a P/E ratio of 55.75 and a beta of 0.47.

N-able (NYSE:NABL) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. As a group, sell-side analysts predict that N-able will post 0.27 earnings per share for the current fiscal year.

Insider Activity at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On N-able

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Scalar Gauge Management LLC acquired a new position in N-able in the second quarter valued at approximately $10,650,000. Dimensional Fund Advisors LP raised its stake in shares of N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares during the period. Sea Cliff Partners Management LP grew its holdings in N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after buying an additional 226,532 shares in the last quarter. Janus Henderson Group PLC grew its holdings in N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after buying an additional 200,095 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in N-able in the 2nd quarter valued at $2,988,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.