N-able (NYSE:NABL) Earns “Buy” Rating from Needham & Company LLC

N-able (NYSE:NABL)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They presently have a $16.50 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 49.86% from the stock’s current price.

Separately, BMO Capital Markets dropped their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Friday, November 8th.

N-able Stock Down 1.3 %

NABL stock opened at $11.01 on Monday. The company has a fifty day moving average price of $12.50 and a 200 day moving average price of $13.19. N-able has a 12 month low of $11.00 and a 12 month high of $15.48. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 55.05 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.97.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company 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%. N-able’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Sell-side analysts expect that N-able will post 0.27 earnings per share for the current year.

Insider Transactions at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in N-able by 2.2% in the 2nd quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock valued at $617,000 after acquiring an additional 866 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in N-able by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock valued at $538,000 after acquiring an additional 900 shares during the last quarter. ProShare Advisors LLC grew its stake in N-able by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after acquiring an additional 971 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in N-able by 3.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock valued at $529,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in N-able by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after acquiring an additional 1,668 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

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.