N-able (NYSE:NABL) Receives Outperform Rating from William Blair

N-able (NYSE:NABL - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at William Blair in a research note issued to investors on Friday,RTT News reports.

Several other brokerages also recently issued reports on NABL. Scotiabank increased their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday. BMO Capital Markets restated a "market perform" rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of N-able in a report on Friday. Finally, Royal Bank of Canada decreased their price objective on N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.38.

N-able Trading Up 1.1 %

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

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N-able declared that its Board of Directors has approved a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NABL. Vanguard Group Inc. lifted its position in shares of N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after buying an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock valued at $32,969,000 after buying an additional 179,305 shares during the last quarter. State Street Corp lifted its position in shares of N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company's stock valued at $41,331,000 after buying an additional 75,003 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of N-able by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company's stock worth $20,870,000 after purchasing an additional 15,145 shares during the period. Finally, Applied Fundamental Research LLC increased its stake in shares of N-able by 32.8% during the fourth quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after purchasing an additional 267,399 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.