N-able (NYSE:NABL) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of N-able (NYSE:NABL) in a research note released on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock.

Several other equities research analysts also recently commented on the company. BMO Capital Markets reduced their target price on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of N-able in a research note on Monday, November 11th.

N-able Stock Performance

NYSE:NABL opened at $10.37 on Thursday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $12.17 and a 200-day moving average of $13.07. N-able has a twelve month low of $9.98 and a twelve month high of $15.48. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 51.85 and a beta of 0.47.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts forecast that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at $4,208,972.96. This represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of N-able during the 2nd quarter valued at $30,000. GAMMA Investing LLC boosted its position in N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after purchasing an additional 3,163 shares during the last quarter. Verition Fund Management LLC purchased a new position in N-able in the third quarter valued at about $146,000. Entropy Technologies LP acquired a new position in N-able in the 3rd quarter worth about $149,000. Finally, Aigen Investment Management LP raised its stake in shares of N-able by 38.4% during the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after purchasing an additional 3,863 shares in the last quarter. Institutional investors and hedge funds 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.