N-able (NYSE:NABL) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL - Free Report) in a report issued on Monday morning,Benzinga reports. The firm currently has a $16.50 target price on the stock.

Separately, BMO Capital Markets reduced their price objective on N-able from $14.00 to $13.50 and set a "market perform" rating for the company in a report on Friday.

N-able Price Performance

NYSE NABL traded down $0.08 on Monday, hitting $11.15. 774,137 shares of the company were exchanged, compared to its average volume of 527,512. The company has a current ratio of 3.01, a quick ratio of 2.97 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.07 billion, a P/E ratio of 56.15 and a beta of 0.47. The firm has a 50 day moving average of $12.56 and a two-hundred day moving average of $13.20. N-able has a 1-year low of $11.12 and a 1-year high of $15.48.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. N-able had a return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $119.40 million for the quarter, compared to the consensus estimate of $116.83 million. During the same quarter last year, the business posted $0.03 EPS. The firm's revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that N-able will post 0.27 EPS for the current year.

Insider Buying and Selling

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the sale, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NABL. Summit Securities Group LLC purchased a new stake in N-able during the second quarter valued at about $30,000. GAMMA Investing LLC lifted its holdings in N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company's stock worth $56,000 after buying an additional 3,163 shares during the period. SageView Advisory Group LLC bought a new position in shares of N-able in the 1st quarter worth about $148,000. Entropy Technologies LP bought a new stake in N-able during the third quarter worth about $149,000. Finally, Aigen Investment Management LP grew its holdings in N-able by 38.4% in the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock worth $182,000 after purchasing an additional 3,863 shares during the period. 96.35% of the stock is owned by institutional investors.

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.