N-able (NYSE:NABL) Price Target Lowered to $12.00 at Royal Bank of Canada

N-able (NYSE:NABL - Get Free Report) had its price target reduced by stock analysts at Royal Bank of Canada from $15.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's target price would indicate a potential upside of 27.06% from the company's previous close.

NABL has been the subject of several other reports. Needham & Company LLC restated a "buy" rating and set a $16.50 price objective on shares of N-able in a research report on Friday, November 22nd. Scotiabank raised N-able to a "hold" rating in a report on Friday, December 6th. Finally, BMO Capital Markets decreased their price objective on N-able from $14.00 to $13.50 and set a "market perform" rating on the stock in a report on Friday, November 8th.

N-able Stock Performance

Shares of NABL traded up $0.20 during mid-day trading on Tuesday, reaching $9.44. The company's stock had a trading volume of 576,851 shares, compared to its average volume of 828,088. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a 1-year low of $8.91 and a 1-year high of $15.48. The business has a 50-day simple moving average of $9.90 and a two-hundred day simple moving average of $11.91. The stock has a market cap of $1.75 billion, a P/E ratio of 47.22 and a beta of 0.41.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NABL. Scalar Gauge Management LLC acquired a new stake in shares of N-able during the 2nd quarter valued at $10,650,000. Applied Fundamental Research LLC boosted its stake in shares of N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company's stock valued at $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company's stock worth $47,427,000 after purchasing an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP increased its stake in shares of N-able by 11.8% in the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company's stock valued at $32,698,000 after buying an additional 226,532 shares during the period. Finally, 272 Capital LP bought a new position in N-able in the 2nd quarter valued at approximately $2,988,000. 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.