N-able (NYSE:NABL) Reaches New 1-Year Low After Analyst Downgrade

Shares of N-able, Inc. (NYSE:NABL - Get Free Report) reached a new 52-week low during trading on Monday after Needham & Company LLC lowered their price target on the stock from $16.50 to $10.00. Needham & Company LLC currently has a buy rating on the stock. N-able traded as low as $7.38 and last traded at $7.52, with a volume of 303129 shares changing hands. The stock had previously closed at $10.03.

Several other analysts have also issued reports on the stock. Royal Bank of Canada dropped 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 report on Tuesday, January 21st. Scotiabank decreased their price target on shares of N-able from $11.20 to $11.00 and set a "sector perform" rating on the stock in a research note on Tuesday, January 21st. Finally, BMO Capital Markets reduced their target price on shares of N-able from $14.00 to $13.50 and set a "market perform" rating on the stock in a research note on Friday, November 8th.

Institutional Investors Weigh In On N-able

A number of institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of N-able by 13.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,357 shares of the company's stock valued at $1,591,000 after acquiring an additional 19,861 shares during the last quarter. Woodline Partners LP acquired a new position in shares of N-able in the fourth quarter valued at approximately $443,000. Squarepoint Ops LLC grew its holdings in N-able by 567.0% during the 4th quarter. Squarepoint Ops LLC now owns 86,207 shares of the company's stock worth $805,000 after acquiring an additional 73,282 shares in the last quarter. Two Sigma Advisers LP grew its holdings in N-able by 340.6% during the 4th quarter. Two Sigma Advisers LP now owns 74,900 shares of the company's stock worth $700,000 after acquiring an additional 57,900 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in N-able by 46.9% during the 4th quarter. Two Sigma Investments LP now owns 159,612 shares of the company's stock worth $1,491,000 after acquiring an additional 50,926 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Stock Down 28.2 %

The company has a market cap of $1.34 billion, a price-to-earnings ratio of 36.00 and a beta of 0.42. 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 firm's fifty day simple moving average is $9.62 and its 200 day simple moving average is $11.05.

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.

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