N-able (NYSE:NABL) Price Target Lowered to $10.00 at Royal Bank of Canada

N-able (NYSE:NABL) had its target price decreased by equities researchers at Royal Bank of Canada from $12.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 44.40% from the company’s previous close.

NABL has been the topic of a number of other reports. Needham & Company LLC lowered their target price on shares of N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Scotiabank reduced their price objective on N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets lowered 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.

N-able Stock Down 3.8 %

NABL stock traded down $0.28 during trading hours on Tuesday, hitting $6.93. The company’s stock had a trading volume of 312,162 shares, compared to its average volume of 823,817. The company has a market capitalization of $1.29 billion, a PE ratio of 34.63 and a beta of 0.42. The stock has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $11.05. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a 12 month low of $6.75 and a 12 month high of $15.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Applied Fundamental Research LLC raised its stake in shares of N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after acquiring an additional 664,198 shares during the last quarter. Norges Bank bought a new position in N-able in the 4th quarter worth approximately $3,450,000. Scalar Gauge Management LLC lifted its holdings in 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 buying an additional 279,387 shares in the last quarter. Millennium Management LLC boosted its position in N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock valued at $7,396,000 after buying an additional 258,979 shares during the last quarter. Finally, Crescent Park Management L.P. raised its position in shares of N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after acquiring an additional 229,943 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.