Needham & Company LLC Cuts N-able (NYSE:NABL) Price Target to $10.00

N-able (NYSE:NABL) had its target price trimmed by Needham & Company LLC from $16.50 to $10.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on NABL. Scotiabank reduced their target price on N-able from $11.20 to $11.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reduced their target price on N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Finally, BMO Capital Markets reduced their target price on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Friday, November 8th.

N-able Trading Up 2.7 %

Shares of NYSE NABL opened at $7.42 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The stock has a market capitalization of $1.38 billion, a P/E ratio of 37.08 and a beta of 0.42. N-able has a 1-year low of $6.75 and a 1-year high of $15.48. The business has a fifty day moving average price of $9.53 and a 200 day moving average price of $10.98.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Applied Fundamental Research LLC increased its holdings 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 valued at $10,652,000 after purchasing an additional 664,198 shares during the period. Barclays PLC increased its holdings in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after purchasing an additional 114,374 shares during the period. Conestoga Capital Advisors LLC acquired a new position in shares of N-able in the fourth quarter valued at about $1,006,000. Algert Global LLC increased its holdings in shares of N-able by 73.6% in the third quarter. Algert Global LLC now owns 161,100 shares of the company’s stock valued at $2,104,000 after purchasing an additional 68,320 shares during the period. Finally, Atom Investors LP increased its holdings in shares of N-able by 59.2% in the third quarter. Atom Investors LP now owns 156,126 shares of the company’s stock valued at $2,039,000 after purchasing an additional 58,087 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

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.