N-able (NYSE:NABL) Sets New 52-Week Low – Time to Sell?

Shares of N-able, Inc. (NYSE:NABL) hit a new 52-week low during trading on Friday . The stock traded as low as $6.66 and last traded at $6.71, with a volume of 1717338 shares changing hands. The stock had previously closed at $7.10.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada decreased their price target on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of N-able in a report on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of N-able in a report on Friday, March 14th. Scotiabank increased their price objective on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a report on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Stock Down 4.2 %

The stock’s fifty day moving average price is $8.65 and its 200 day moving average price is $10.17. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.29 billion, a P/E ratio of 34.03 and a beta of 0.57.

N-able announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On N-able

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NABL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of N-able by 13.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,357 shares of the company’s stock worth $1,591,000 after buying an additional 19,861 shares during the last quarter. Woodline Partners LP purchased a new stake in N-able in the fourth quarter worth $443,000. Squarepoint Ops LLC boosted its holdings in N-able by 567.0% in the fourth quarter. Squarepoint Ops LLC now owns 86,207 shares of the company’s stock valued at $805,000 after acquiring an additional 73,282 shares in the last quarter. Two Sigma Advisers LP increased its position in N-able by 340.6% during the 4th quarter. Two Sigma Advisers LP now owns 74,900 shares of the company’s stock valued at $700,000 after purchasing an additional 57,900 shares during the period. Finally, Two Sigma Investments LP raised its holdings in N-able by 46.9% in the 4th quarter. Two Sigma Investments LP now owns 159,612 shares of the company’s stock worth $1,491,000 after purchasing an additional 50,926 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

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.