N-able's (NABL) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL - Free Report) in a research report sent to investors on Friday,Benzinga reports. Needham & Company LLC currently has a $16.50 target price on the stock.

A number of other brokerages have also weighed in on NABL. Royal Bank of Canada reiterated an "outperform" rating and issued a $15.00 price target on shares of N-able in a report on Thursday. BMO Capital Markets decreased their price target on shares of 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 0.9 %

NYSE NABL traded up $0.09 during mid-day trading on Friday, reaching $10.37. 420,162 shares of the stock were exchanged, compared to its average volume of 528,097. N-able has a 1-year low of $9.98 and a 1-year high of $15.48. The business's fifty day simple moving average is $12.21 and its 200 day simple moving average is $13.08. The stock has a market capitalization of $1.93 billion, a PE ratio of 51.40 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same quarter last year, the business earned $0.03 earnings per share. N-able's revenue was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Activity at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the transaction, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. The trade was a 4.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.43% of the company's stock.

Institutional Investors Weigh In On N-able

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in shares of N-able in the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company's stock worth $56,000 after purchasing an additional 3,163 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of N-able in the 3rd quarter worth about $146,000. Entropy Technologies LP bought a new stake in shares of N-able in the 3rd quarter worth about $149,000. Finally, Aigen Investment Management LP increased its position in shares of N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company's stock worth $182,000 after purchasing an additional 3,863 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

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.