N-able (NYSE:NABL) Receives “Buy” Rating from Needham & Company LLC

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

Several other equities analysts also recently weighed in on NABL. BMO Capital Markets dropped their price target on 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. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of N-able in a report on Thursday.

N-able Stock Performance

N-able stock opened at $10.38 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a fifty day moving average of $12.17 and a two-hundred day moving average of $13.06. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 51.90 and a beta of 0.47. N-able has a fifty-two week low of $9.98 and a fifty-two week high of $15.48.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $116.40 million during 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%. N-able’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. On average, analysts anticipate that N-able will post 0.28 EPS for the current fiscal year.

Insider Transactions at N-able

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

Institutional Investors Weigh In On N-able

Several hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new position in N-able in the second quarter valued at $30,000. GAMMA Investing LLC boosted its holdings in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after acquiring an additional 3,163 shares during the last quarter. Verition Fund Management LLC acquired a new position in N-able in the third quarter valued at $146,000. Entropy Technologies LP acquired a new position in N-able in the third quarter valued at $149,000. Finally, Summit Global Investments acquired a new position in N-able in the second quarter valued at $191,000. 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.