Scotiabank Issues Pessimistic Forecast for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL - Free Report) had its price objective lowered by Scotiabank from $11.00 to $8.75 in a research note released on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

NABL has been the subject of several other research reports. Needham & Company LLC reduced their price target on shares of N-able from $16.50 to $10.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank of Canada cut 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, January 21st. Finally, BMO Capital Markets decreased their target price on 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.

N-able Trading Down 1.4 %

NABL stock traded down $0.11 during mid-day trading on Tuesday, reaching $7.36. 1,231,075 shares of the stock traded hands, compared to its average volume of 923,881. N-able has a 52-week low of $6.75 and a 52-week high of $15.48. The stock's fifty day moving average is $9.48 and its 200-day moving average is $10.96. The company has a market cap of $1.37 billion, a P/E ratio of 36.78 and a beta of 0.41. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

Remove Ads

Institutional Investors Weigh In On N-able

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP acquired a new position in shares of N-able in the third quarter worth $149,000. Aigen Investment Management LP grew its stake in N-able by 38.4% in the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock valued at $182,000 after purchasing an additional 3,863 shares in the last quarter. Victory Capital Management Inc. increased its position in N-able by 14.4% in the 3rd quarter. Victory Capital Management Inc. now owns 55,497 shares of the company's stock worth $725,000 after purchasing an additional 7,000 shares during the last quarter. MQS Management LLC purchased a new stake in shares of N-able during the 3rd quarter worth about $330,000. Finally, Quest Partners LLC lifted its holdings in shares of N-able by 91.4% during the 3rd quarter. Quest Partners LLC now owns 67,217 shares of the company's stock valued at $878,000 after buying an additional 32,094 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

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.