BMO Capital Markets Has Lowered Expectations for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its price objective dropped by investment analysts at BMO Capital Markets from $14.00 to $13.50 in a research note issued to investors on Friday, Marketbeat.com reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 20.21% from the stock’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of N-able in a report on Friday, August 9th.

N-able Stock Performance

NYSE NABL traded down $0.73 during trading hours on Friday, hitting $11.23. The company had a trading volume of 921,117 shares, compared to its average volume of 344,631. N-able has a fifty-two week low of $11.16 and a fifty-two week high of $15.48. The firm has a market cap of $2.08 billion, a P/E ratio of 66.06 and a beta of 0.47. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $12.56 and a 200-day simple moving average of $13.20.

N-able (NYSE:NABL) last posted its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. N-able had a net margin of 7.19% and a return on equity of 5.67%. The firm had revenue of $119.40 million during the quarter, compared to analyst estimates of $116.83 million. During the same period in the previous year, the business posted $0.03 EPS. N-able’s revenue was up 12.5% on a year-over-year basis. Equities analysts predict that N-able will post 0.27 EPS for the current year.

Insider Buying and Selling

In other news, CEO John Pagliuca sold 150,956 shares of N-able stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the transaction, the chief executive officer now directly owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John Pagliuca sold 150,956 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $12.77, for a total transaction of $1,927,708.12. Following the completion of the transaction, the chief executive officer now owns 1,465,346 shares in the company, valued at approximately $18,712,468.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Johnson sold 21,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $12.79, for a total transaction of $271,148.00. Following the completion of the sale, the director now owns 48,797 shares in the company, valued at $624,113.63. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,351 shares of company stock valued at $2,551,240 over the last quarter. 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. Scalar Gauge Management LLC purchased a new stake in shares of N-able during the second quarter valued at $10,650,000. Dimensional Fund Advisors LP raised its holdings in N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares during the period. Sea Cliff Partners Management LP lifted its stake in N-able by 11.8% during the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after buying an additional 226,532 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of N-able by 1,041.3% in the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after acquiring an additional 200,095 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in shares of N-able during the second quarter valued at approximately $2,988,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.