N-able (NYSE:NABL) Stock Price Expected to Rise, Scotiabank Analyst Says

N-able (NYSE:NABL - Free Report) had its price objective upped by Scotiabank from $8.75 to $9.00 in a report released on Friday,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. BMO Capital Markets restated a "market perform" rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of N-able in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.38.

N-able Stock Performance

Shares of NYSE:NABL traded up $0.09 during trading on Friday, hitting $7.77. 955,189 shares of the company were exchanged, compared to its average volume of 605,373. The company has a market cap of $1.47 billion, a PE ratio of 38.83 and a beta of 0.41. The stock has a 50 day moving average of $9.20 and a 200 day moving average of $10.67. N-able has a 52-week low of $6.75 and a 52-week high of $15.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

Remove Ads

N-able declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NABL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of N-able by 13.2% in 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 worth $1,591,000 after purchasing an additional 19,861 shares during the last quarter. Woodline Partners LP bought a new stake in shares of N-able in the fourth quarter worth about $443,000. Squarepoint Ops LLC grew its stake in shares of N-able by 567.0% in the fourth quarter. Squarepoint Ops LLC now owns 86,207 shares of the company's stock worth $805,000 after purchasing an additional 73,282 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in N-able by 340.6% in the fourth quarter. Two Sigma Advisers LP now owns 74,900 shares of the company's stock worth $700,000 after buying an additional 57,900 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in N-able by 46.9% in the fourth quarter. Two Sigma Investments LP now owns 159,612 shares of the company's stock worth $1,491,000 after buying an additional 50,926 shares during the period. 96.35% of the stock is owned by institutional investors.

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.