Scotiabank Has Lowered Expectations for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its price target reduced by stock analysts at Scotiabank from $11.20 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 17.27% from the stock’s current price.

NABL has been the topic of several other reports. Royal Bank of Canada reduced their price target on N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday. BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of N-able in a report on Friday, November 22nd.

N-able Price Performance

Shares of NABL stock traded up $0.14 during trading on Tuesday, hitting $9.38. The company had a trading volume of 266,080 shares, compared to its average volume of 800,868. N-able has a 52 week low of $8.91 and a 52 week high of $15.48. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 46.88 and a beta of 0.41. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $9.90 and its two-hundred day moving average is $11.91.

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

Hedge Funds Weigh In On N-able

Hedge funds and other institutional investors have recently modified their holdings of the stock. Impact Partnership Wealth LLC purchased a new position in N-able during the fourth quarter valued at $104,000. Harbor Capital Advisors Inc. increased its stake in shares of N-able by 22.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after acquiring an additional 2,764 shares in the last quarter. Verition Fund Management LLC purchased a new position in N-able during the 3rd quarter valued at about $146,000. Entropy Technologies LP bought a new stake in N-able during the third quarter worth about $149,000. Finally, Aigen Investment Management LP grew its holdings in N-able by 38.4% in the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares during the period. 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.