N-able (NYSE:NABL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL) in a research note released on Monday,Benzinga reports. Needham & Company LLC currently has a $16.50 price target on the stock.

Separately, BMO Capital Markets decreased 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 note on Friday, November 8th.

N-able Trading Down 2.0 %

NABL stock opened at $10.81 on Monday. N-able has a 52 week low of $10.77 and a 52 week high of $15.48. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 54.03 and a beta of 0.47. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $12.43 and a 200-day simple moving average of $13.15.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts expect that N-able will post 0.27 EPS for the current year.

Insider Activity at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. The trade was a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

Several hedge funds and other institutional investors have recently made changes to their positions in NABL. Illinois Municipal Retirement Fund grew its position 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 buying an additional 1,242 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of N-able in the 1st quarter valued at about $848,000. Russell Investments Group Ltd. acquired a new stake in shares of N-able during the 1st quarter valued at $392,000. ProShare Advisors LLC grew its stake in N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after purchasing an additional 971 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new position in N-able in the first quarter worth approximately $148,000. 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.