N-able, Inc. (NYSE:NABL) Receives $5.08 Consensus Price Target from Analysts

Shares of N-able, Inc. (NYSE:NABL) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.08.

A number of research analysts recently issued reports on NABL shares. Royal Bank Of Canada downgraded shares of N-able from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $6.00 to $4.00 in a research report on Tuesday, August 11th. Wall Street Zen cut shares of N-able from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Needham & Company LLC cut their target price on N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, BMO Capital Markets lowered their price target on N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research report on Tuesday, August 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lexington Partners L.P. acquired a new stake in N-able during the 2nd quarter worth approximately $4,550,312. Arrowstreet Capital Limited Partnership purchased a new stake in shares of N-able during the first quarter worth $2,642,000. Dimensional Fund Advisors LP increased its position in shares of N-able by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock worth $22,277,000 after acquiring an additional 474,028 shares during the period. Renaissance Technologies LLC raised its stake in shares of N-able by 68.4% in the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock valued at $4,112,000 after acquiring an additional 357,500 shares in the last quarter. Finally, CenterBook Partners LP raised its stake in shares of N-able by 32.6% in the fourth quarter. CenterBook Partners LP now owns 1,084,990 shares of the company’s stock valued at $8,116,000 after acquiring an additional 266,806 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Trading Down 4.1%

NYSE NABL opened at $3.85 on Friday. The company has a 50 day moving average price of $4.10 and a 200 day moving average price of $4.22. The firm has a market cap of $728.25 million, a PE ratio of -192.75 and a beta of 0.49. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. N-able has a 52 week low of $2.92 and a 52 week high of $8.73.

N-able (NYSE:NABL) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $138.22 million for the quarter, compared to analyst estimates of $138.08 million. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, sell-side analysts forecast that N-able will post 0.23 EPS for the current fiscal year.

N-able declared that its board has initiated a stock buyback program on Friday, August 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

About N-able

N-able, Inc is a software company that provides cloud-based technology solutions for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses, enabling providers to deliver services remotely and at scale.

The company’s offerings include remote monitoring and management, endpoint management, data protection and backup, cybersecurity, email security, password management, and professional services automation tools.