N-able, Inc. (NYSE:NABL) Receives $5.08 Average Price Target from Brokerages

Shares of N-able, Inc. (NYSE:NABLGet Free Report) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.08.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a report on Tuesday, August 11th. Needham & Company LLC cut their price target on shares of N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $6.00 to $4.00 in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Finally, Scotiabank decreased their price objective on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th.

Get Our Latest Stock Analysis on NABL

N-able Stock Performance

NYSE NABL opened at $4.01 on Friday. The business’s 50 day moving average price is $4.12 and its 200-day moving average price is $4.23. N-able has a fifty-two week low of $2.92 and a fifty-two week high of $8.73. The company has a market cap of $758.47 million, a P/E ratio of -200.75 and a beta of 0.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.30 and a current ratio of 1.30.

N-able (NYSE:NABLGet Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%.The company had revenue of $138.22 million during the quarter, compared to the consensus estimate of $138.08 million. During the same period last year, the company earned $0.11 earnings per share. N-able’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that N-able will post 0.23 earnings per share for the current year.

N-able declared that its board has approved a share repurchase plan on Friday, August 28th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On N-able

A number of institutional investors and hedge funds have recently modified their holdings of NABL. AXQ Capital LP purchased a new position in N-able during the 2nd quarter valued at $190,000. Lexington Partners L.P. purchased a new stake in N-able in the second quarter worth $4,550,312. Bank of America Corp DE increased its stake in N-able by 17.3% in the first quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock worth $3,334,000 after purchasing an additional 105,518 shares during the period. Quantinno Capital Management LP lifted its position in shares of N-able by 522.0% during the first quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock worth $663,000 after purchasing an additional 119,155 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of N-able by 68.4% during the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock worth $4,112,000 after purchasing an additional 357,500 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

N-able Company Profile

(Get Free Report)

N-able, Inc is a software company that provides cloud-based technology solutions for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses, enabling providers to deliver services remotely and at scale.

The company’s offerings include remote monitoring and management, endpoint management, data protection and backup, cybersecurity, email security, password management, and professional services automation tools.

Further Reading

Analyst Recommendations for N-able (NYSE:NABL)

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