N-able (NYSE:NABL) Given New $11.00 Price Target at Scotiabank

N-able (NYSE:NABL) had its target price decreased by Scotiabank from $11.20 to $11.00 in a report issued on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities research analysts have 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 on the stock in a research note on Friday, November 8th. Royal Bank of Canada cut their target price on shares of N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of N-able in a research report on Friday, November 22nd.

N-able Price Performance

NYSE:NABL opened at $9.62 on Tuesday. N-able has a one year low of $8.91 and a one year high of $15.48. The stock has a market cap of $1.79 billion, a P/E ratio of 48.08 and a beta of 0.41. The company has a fifty day moving average price of $9.82 and a 200 day moving average price of $11.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that N-able will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On N-able

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position 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 buying an additional 371,013 shares in the last quarter. Renaissance Technologies LLC raised its holdings in N-able by 4.5% during the 2nd quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock valued at $9,129,000 after buying an additional 25,966 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of N-able by 40.0% during the second quarter. Gabelli Funds LLC now owns 164,572 shares of the company’s stock worth $2,506,000 after purchasing an additional 47,000 shares during the period. Public Sector Pension Investment Board grew its position in shares of N-able by 7.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 154,471 shares of the company’s stock worth $2,353,000 after buying an additional 10,224 shares during the last quarter. Finally, 272 Capital LP purchased a new position in N-able during the 2nd quarter valued at $2,988,000. Hedge funds and other institutional investors 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.