N-able (NYSE:NABL) Stock Rating Reaffirmed by Needham & Company LLC

N-able (NYSE:NABL)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $16.50 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 27.61% from the stock’s current price.

Separately, Royal Bank of Canada increased their target price on N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 23rd.

N-able Stock Up 2.1 %

Shares of NABL traded up $0.26 on Thursday, reaching $12.93. The stock had a trading volume of 780,127 shares, compared to its average volume of 503,266. The company has a 50-day simple moving average of $12.79 and a 200-day simple moving average of $12.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 110.76 and a beta of 0.40. N-able has a 12-month low of $11.50 and a 12-month high of $15.44.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. N-able had a net margin of 5.55% and a return on equity of 4.20%. The company had revenue of $108.42 million during the quarter, compared to analysts’ expectations of $106.86 million. Sell-side analysts predict that N-able will post 0.25 EPS for the current year.

Institutional Investors Weigh In On N-able

Institutional investors and hedge funds have recently modified their holdings of the business. SageView Advisory Group LLC bought a new position in N-able in the 1st quarter worth about $148,000. ProShare Advisors LLC grew its holdings in N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after acquiring an additional 971 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of N-able in the 1st quarter worth approximately $392,000. Susquehanna Fundamental Investments LLC bought a new position in shares of N-able during the first quarter valued at approximately $848,000. Finally, Illinois Municipal Retirement Fund raised its stake in N-able by 3.2% in the first quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock worth $529,000 after buying an additional 1,242 shares in the last quarter. 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.