N-able, Inc. (NYSE:NABL) Stock Has Average Target Price of $5.08

Shares of N-able, Inc. (NYSE:NABL) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.08.

NABL has been the topic of several research analyst reports. Royal Bank Of Canada lowered N-able from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $6.00 to $4.00 in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a research note on Thursday, October 15th. Scotiabank decreased their price objective on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Zacks Research raised N-able from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Finally, BMO Capital Markets lowered their price objective on N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a research note on Tuesday, August 11th.

N-able Stock Performance

Shares of NABL opened at $5.08 on Monday. The company has a market cap of $958.72 million, a PE ratio of -253.75 and a beta of 0.39. The firm has a 50-day moving average of $4.37 and a 200-day moving average of $4.48. N-able has a one year low of $2.92 and a one year high of $8.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.30.

N-able (NYSE:NABL) last issued its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The company had revenue of $138.22 million for the quarter, compared to analysts’ expectations of $138.08 million. During the same period in the prior year, the firm earned $0.11 EPS. N-able’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that N-able will post 0.23 earnings per share for the current year.

N-able announced that its board has initiated a stock repurchase program on Friday, August 28th that authorizes the company to buy back $50 million in shares. This buyback authorization authorizes the company to buy up to 6.7% of its stock through open market purchases. Share buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its stake in N-able by 165.3% during the third quarter. Signaturefd LLC now owns 9,332 shares of the company’s stock worth $38,000 after buying an additional 5,815 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of N-able in the 1st quarter valued at approximately $48,000. PNC Financial Services Group Inc. raised its position in shares of N-able by 251.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,983 shares of the company’s stock valued at $65,000 after buying an additional 10,007 shares in the last quarter. Fifth Third Bancorp raised its position in shares of N-able by 988.2% in the 1st quarter. Fifth Third Bancorp now owns 19,414 shares of the company’s stock valued at $91,000 after buying an additional 17,630 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of N-able during the 1st quarter worth approximately $92,000. Institutional investors own 96.35% of the company’s stock.

N-able Company Profile

N-able, Inc is a software company that provides technology solutions to managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and midsize businesses through cloud-based tools and services.

The company’s offerings include remote monitoring and management software, endpoint security, backup and disaster recovery, email security, password management, and other cybersecurity and data protection solutions.