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

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL) in a research report sent to investors on Friday,Benzinga reports. Needham & Company LLC currently has a $10.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Royal Bank of Canada decreased their target price on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. BMO Capital Markets restated a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Scotiabank decreased their price target on shares of N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Stock Down 3.0 %

Shares of NYSE NABL opened at $7.61 on Friday. N-able has a 1 year low of $6.75 and a 1 year high of $15.49. The firm’s 50 day moving average price is $9.24 and its 200 day moving average price is $10.74. The firm has a market cap of $1.41 billion, a P/E ratio of 38.03 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able declared that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On N-able

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after acquiring an additional 1,528 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of N-able in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in shares of N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after acquiring an additional 1,309 shares during the period. KBC Group NV raised its stake in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after acquiring an additional 2,808 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of N-able in the 4th quarter valued at $83,000. 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.