N-able (NYSE:NABL) to Repurchase $75.00 million in Outstanding Shares

N-able (NYSE:NABL) declared that its board has authorized a share buyback program on Wednesday, March 12th, RTT News reports. The company plans to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of N-able in a research note on Friday. Scotiabank lifted their price target on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research report on Friday. William Blair reaffirmed an “outperform” rating on shares of N-able in a research report on Friday. BMO Capital Markets reaffirmed 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, Royal Bank of Canada reduced their price target on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, N-able currently has an average rating of “Moderate Buy” and an average target price of $9.38.

N-able Stock Down 3.0 %

NABL stock opened at $7.61 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 38.03 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm’s 50 day moving average price is $9.24 and its 200-day moving average price is $10.74. N-able has a one year low of $6.75 and a one year high of $15.49.

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.