N-able (NYSE:NABL – Free Report) had its target price lowered by Royal Bank of Canada from $15.00 to $12.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.
Other equities analysts also recently issued research reports about the company. Scotiabank upgraded N-able to a “hold” rating in a research report on Friday, December 6th. BMO Capital Markets decreased their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a report on Friday, November 22nd.
View Our Latest Analysis on NABL
N-able Price Performance
N-able (NYSE:NABL – Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, research analysts predict that N-able will post 0.27 EPS for the current fiscal year.
Hedge Funds Weigh In On N-able
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NABL. State Street Corp increased its holdings in shares of N-able by 2.4% during the 3rd quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after buying an additional 75,003 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP raised its position in N-able by 11.8% in 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 purchasing an additional 226,532 shares during the period. Geode Capital Management LLC lifted its stake in shares of N-able by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock valued at $20,870,000 after purchasing an additional 15,145 shares during the last quarter. Finally, Scalar Gauge Management LLC grew its holdings in shares of N-able by 40.0% during the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after purchasing an additional 279,387 shares during the period. 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.
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