N-able (NYSE:NABL) Given New $11.00 Price Target at Scotiabank

N-able (NYSE:NABL - Get Free Report) had its price objective lowered by analysts at Scotiabank from $11.20 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price objective indicates a potential upside of 16.48% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada lowered their target price on shares of N-able from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday. BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a "market perform" rating for the company in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $16.50 price target on shares of N-able in a research report on Friday, November 22nd.

N-able Stock Performance

NABL traded up $0.20 on Tuesday, hitting $9.44. The company's stock had a trading volume of 576,851 shares, compared to its average volume of 828,088. N-able has a 12 month low of $8.91 and a 12 month high of $15.48. The firm has a market cap of $1.75 billion, a P/E ratio of 47.22 and a beta of 0.41. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company's 50 day simple moving average is $9.87 and its 200-day simple moving average is $11.88.

N-able (NYSE:NABL - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. Analysts forecast that N-able will post 0.27 EPS for the current year.

Institutional Investors Weigh In On N-able

Several hedge funds have recently made changes to their positions in NABL. Impact Partnership Wealth LLC bought a new position in N-able during the 4th quarter valued at about $104,000. Harbor Capital Advisors Inc. lifted its position in N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company's stock valued at $142,000 after purchasing an additional 2,764 shares during the period. Verition Fund Management LLC bought a new position in N-able during the third quarter valued at approximately $146,000. Entropy Technologies LP purchased a new stake in N-able in the third quarter worth approximately $149,000. Finally, Aigen Investment Management LP grew its position in N-able by 38.4% in the 3rd 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 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.