N-able (NYSE:NABL) Sees Large Volume Increase - Still a Buy?

Shares of N-able, Inc. (NYSE:NABL - Get Free Report) saw an uptick in trading volume on Monday . 1,014,005 shares changed hands during mid-day trading, an increase of 33% from the previous session's volume of 763,099 shares.The stock last traded at $9.49 and had previously closed at $9.31.

Wall Street Analyst Weigh In

NABL has been the subject of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $15.00 price objective on shares of N-able in a report on Thursday, November 21st. Scotiabank raised shares of N-able to a "hold" rating in a research note on Friday, December 6th. 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. 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 Trading Up 3.1 %

The firm's 50 day moving average is $10.48 and its 200 day moving average is $12.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market capitalization of $1.78 billion, a PE ratio of 48.00 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The firm had revenue of $116.40 million for 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 quarter in the previous year, the company earned $0.03 earnings per share. As a group, equities analysts predict that N-able, Inc. will post 0.27 EPS for the current year.

Hedge Funds Weigh In On N-able

Several hedge funds have recently made changes to their positions in NABL. Verition Fund Management LLC purchased a new position in N-able during the 3rd quarter valued at $146,000. Entropy Technologies LP purchased a new position in shares of N-able during the third quarter valued at about $149,000. Aigen Investment Management LP raised 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 worth $182,000 after buying an additional 3,863 shares in the last quarter. Intech Investment Management LLC bought a new position in N-able in the third quarter worth about $188,000. Finally, Handelsbanken Fonder AB purchased a new stake in N-able in the third quarter worth about $221,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.