N-able’s (NABL) “Outperform” Rating Reaffirmed at Royal Bank of Canada

N-able (NYSE:NABL)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They currently have a $15.00 price objective on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 46.06% from the stock’s previous close.

NABL has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of N-able in a research report on Monday, November 11th. BMO Capital Markets cut their target price on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Friday, November 8th.

N-able Stock Up 1.1 %

Shares of NABL stock traded up $0.11 during midday trading on Thursday, reaching $10.27. 43,075 shares of the stock were exchanged, compared to its average volume of 526,784. The company’s 50 day moving average is $12.26 and its two-hundred day moving average is $13.10. The firm has a market cap of $1.91 billion, a PE ratio of 51.35 and a beta of 0.47. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a 1 year low of $9.98 and a 1 year high of $15.48.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. During the same period in the prior year, the firm posted $0.03 EPS. N-able’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts predict that N-able will post 0.28 EPS for the current year.

Insider Transactions at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This represents a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.43% of the company’s stock.

Institutional Trading of N-able

Several institutional investors and hedge funds have recently made changes to their positions in NABL. Mackenzie Financial Corp increased its position in shares of N-able by 2.2% in the second quarter. Mackenzie Financial Corp now owns 40,497 shares of the company’s stock worth $617,000 after acquiring an additional 866 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of N-able by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after acquiring an additional 900 shares during the last quarter. ProShare Advisors LLC increased its position in shares of N-able by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after acquiring an additional 971 shares in the last quarter. Rhumbline Advisers boosted its position in N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after acquiring an additional 1,668 shares during the period. Finally, Summit Securities Group LLC acquired a new position in N-able in the second quarter worth approximately $30,000. 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.