N-able’s (NABL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of N-able (NYSE:NABL) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $16.50 price target on the stock.

NABL has been the subject of several other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of N-able in a research note on Thursday. BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th.

N-able Stock Performance

Shares of NYSE:NABL opened at $10.37 on Friday. N-able has a 1 year low of $9.98 and a 1 year high of $15.48. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 51.85 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 3.01. The company’s 50 day simple moving average is $12.17 and its 200 day simple moving average is $13.07.

N-able (NYSE:NABL) last issued its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that N-able will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at N-able

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 4.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

A number of hedge funds have recently modified their holdings of NABL. Vanguard Group Inc. lifted its stake in shares of N-able by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock worth $115,193,000 after acquiring an additional 116,293 shares during the period. State Street Corp raised its holdings in N-able by 2.4% during the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after purchasing an additional 75,003 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after purchasing an additional 371,013 shares during the period. Sea Cliff Partners Management LP lifted its position in shares of N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after purchasing an additional 226,532 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of N-able by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock valued at $20,870,000 after purchasing an additional 15,145 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

About N-able

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.