N-able (NYSE:NABL) Stock Price Down 0.9%

N-able, Inc. (NYSE:NABL) shares dropped 0.9% during trading on Thursday . The company traded as low as $12.08 and last traded at $12.22. Approximately 445,307 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 509,169 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of N-able in a research note on Thursday, February 22nd. Royal Bank of Canada increased their target price on N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd.

N-able Stock Down 0.9 %

The stock has a 50 day moving average price of $12.91 and a 200-day moving average price of $12.89. The stock has a market capitalization of $2.26 billion, a P/E ratio of 101.84 and a beta of 0.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.75 and a quick ratio of 2.75.

N-able (NYSE:NABL) last posted its earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $108.42 million during the quarter, compared to analyst estimates of $106.86 million. N-able had a net margin of 5.55% and a return on equity of 4.20%. As a group, research analysts expect that N-able, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Trading of N-able

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock worth $115,239,000 after buying an additional 284,112 shares during the period. Sea Cliff Partners Management LP bought a new position in shares of N-able during the fourth quarter valued at approximately $16,940,000. Sunriver Management LLC increased its stake in shares of N-able by 28.7% during the fourth quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock valued at $37,735,000 after purchasing an additional 635,200 shares in the last quarter. Quest Partners LLC bought a new position in shares of N-able during the fourth quarter valued at approximately $229,000. Finally, Trexquant Investment LP increased its stake in shares of N-able by 29.2% during the fourth quarter. Trexquant Investment LP now owns 40,682 shares of the company’s stock valued at $539,000 after purchasing an additional 9,202 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.