N-able (NYSE:NABL) Rating Lowered to “Buy” at Wall Street Zen

N-able (NYSE:NABL) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts have also recently commented on the company. Royal Bank Of Canada increased their target price on N-able from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a report on Wednesday, October 8th. Finally, Scotiabank reissued a “sector perform” rating and set a $8.75 price objective (up previously from $8.30) on shares of N-able in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.31.

N-able Price Performance

Shares of NYSE:NABL opened at $7.49 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of -249.50 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.40. N-able has a 1-year low of $6.07 and a 1-year high of $10.49. The business’s 50 day moving average is $7.68 and its 200-day moving average is $7.88.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $131.71 million during the quarter, compared to analyst estimates of $127.48 million. N-able had a negative net margin of 1.31% and a positive return on equity of 4.17%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. Sell-side analysts predict that N-able will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in N-able by 1,030.5% during the second quarter. Parallel Advisors LLC now owns 3,516 shares of the company’s stock worth $28,000 after purchasing an additional 3,205 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of N-able by 241.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,162 shares of the company’s stock worth $30,000 after buying an additional 2,943 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of N-able by 1,970.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,789 shares of the company’s stock worth $31,000 after buying an additional 3,606 shares during the last quarter. Signaturefd LLC grew its holdings in shares of N-able by 1,410.3% in the 2nd quarter. Signaturefd LLC now owns 6,615 shares of the company’s stock valued at $54,000 after acquiring an additional 6,177 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of N-able in the first quarter valued at about $72,000. 96.35% of the stock is owned by institutional investors and hedge funds.

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.