N-able’s (NABL) Outperform Rating Reiterated at William Blair

William Blair reissued their outperform rating on shares of N-able (NYSE:NABL) in a research report released on Friday morning,RTT News reports.

Several other brokerages have also commented on NABL. Scotiabank upped their price target on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday. BMO Capital Markets restated a “market perform” rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Royal Bank of Canada lowered their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of N-able in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Performance

N-able stock opened at $7.61 on Friday. The firm has a market capitalization of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41. The stock has a fifty day moving average price of $9.24 and a 200 day moving average price of $10.71. N-able has a 52 week low of $6.75 and a 52 week high of $15.49. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NABL. Applied Fundamental Research LLC lifted its holdings in N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after buying an additional 664,198 shares during the last quarter. Norges Bank bought a new position in N-able during the 4th quarter worth approximately $3,450,000. Scalar Gauge Management LLC lifted its holdings in N-able by 40.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after buying an additional 279,387 shares during the last quarter. Millennium Management LLC lifted its holdings in N-able by 48.6% during the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock worth $7,396,000 after buying an additional 258,979 shares during the last quarter. Finally, Crescent Park Management L.P. lifted its holdings in N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after buying an additional 229,943 shares during the last quarter. 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.