N-able’s (NABL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL) in a research note released on Monday,Benzinga reports. The brokerage currently has a $16.50 target price on the stock.

Separately, BMO Capital Markets decreased their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th.

N-able Stock Down 2.0 %

NABL stock opened at $10.81 on Monday. The company’s 50 day moving average is $12.43 and its two-hundred day moving average is $13.15. N-able has a twelve month low of $10.77 and a twelve month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.01 billion, a P/E ratio of 54.03 and a beta of 0.47.

N-able (NYSE:NABL) last issued its quarterly earnings data 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. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same quarter last year, the company posted $0.03 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts expect that N-able will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. The trade was a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

Several hedge funds have recently bought and sold shares of NABL. Illinois Municipal Retirement Fund lifted its stake in shares of N-able by 3.2% during the first quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock valued at $529,000 after buying an additional 1,242 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of N-able during the 1st quarter worth $848,000. Russell Investments Group Ltd. acquired a new stake in shares of N-able during the first quarter worth $392,000. ProShare Advisors LLC grew its position in shares of N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after purchasing an additional 971 shares during the period. Finally, SageView Advisory Group LLC purchased a new position in N-able during the first quarter worth about $148,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Company Profile

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.