N-able (NYSE:NABL) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL) in a report issued on Monday,Benzinga reports. They currently have a $16.50 price target on the stock.

Separately, BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday.

N-able Stock Down 0.7 %

Shares of NABL opened at $11.15 on Monday. N-able has a one year low of $11.12 and a one year high of $15.48. The company has a market cap of $2.07 billion, a P/E ratio of 55.75 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 2.97. The firm has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $13.20.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same period in the previous year, the business earned $0.03 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts forecast that N-able will post 0.27 EPS for the current fiscal year.

Insider Transactions at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

Institutional Trading of N-able

Several institutional investors have recently modified their holdings of NABL. Illinois Municipal Retirement Fund boosted its position in N-able by 3.2% during the first quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock valued at $529,000 after acquiring an additional 1,242 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in N-able during the first quarter valued at $848,000. Russell Investments Group Ltd. bought a new stake in N-able during the first quarter valued at $392,000. ProShare Advisors LLC boosted its position in N-able by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock valued at $184,000 after acquiring an additional 971 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new stake in N-able during the first quarter valued at $148,000. Institutional investors own 96.35% of the company’s stock.

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.