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

N-able, Inc. (NYSE:NABL) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $12.08 and last traded at $12.22. Approximately 445,307 shares traded hands during 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 subject of a number of recent research reports. Royal Bank of Canada boosted 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. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of N-able in a research report on Thursday, February 22nd.

N-able Trading Up 1.5 %

The firm has a market cap of $2.29 billion, a PE ratio of 103.34 and a beta of 0.38. The firm has a fifty day simple moving average of $12.89 and a two-hundred day simple moving average of $12.88. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.47.

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

Institutional Investors Weigh In On N-able

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 in the last quarter. Sunriver Management LLC grew its holdings in shares of N-able by 28.7% during the 4th quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock worth $37,735,000 after acquiring an additional 635,200 shares during the period. Dimensional Fund Advisors LP raised its position in shares of N-able by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock worth $32,814,000 after acquiring an additional 144,098 shares in the last quarter. Sea Cliff Partners Management LP purchased a new position in shares of N-able in the 4th quarter valued at approximately $16,940,000. Finally, Norges Bank bought a new stake in shares of N-able during the fourth quarter valued at approximately $8,402,000. Institutional investors 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.