Needham & Company LLC Reaffirms Buy Rating for N-able (NYSE:NABL)

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada decreased their target price on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Scotiabank reduced their price target on N-able from $11.00 to $8.75 and set a "sector perform" rating on the stock in a report on Tuesday, March 4th. Finally, BMO Capital Markets restated a "market perform" rating and set a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Price Performance

N-able stock traded up $0.09 during midday trading on Friday, reaching $7.77. The company's stock had a trading volume of 955,189 shares, compared to its average volume of 605,373. N-able has a 52 week low of $6.75 and a 52 week high of $15.49. 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 business has a 50-day moving average price of $9.20 and a 200-day moving average price of $10.67. The stock has a market cap of $1.47 billion, a PE ratio of 38.83 and a beta of 0.41.

Remove Ads

N-able announced that its board has authorized a stock buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Trading of N-able

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Occudo Quantitative Strategies LP grew its holdings in shares of N-able by 2.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 51,869 shares of the company's stock worth $484,000 after purchasing an additional 1,072 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in N-able by 67.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after acquiring an additional 1,309 shares during the last quarter. Blue Trust Inc. boosted its holdings in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock valued at $29,000 after acquiring an additional 1,528 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in N-able by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company's stock valued at $380,000 after acquiring an additional 1,541 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in N-able by 0.8% in the fourth quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock valued at $1,857,000 after acquiring an additional 1,586 shares during 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.