BMO Capital Markets Reaffirms Market Perform Rating for N-able (NYSE:NABL)

N-able (NYSE:NABL)‘s stock had its “market perform” rating reiterated by analysts at BMO Capital Markets in a research report issued on Tuesday,Benzinga reports. They currently have a $8.50 price target on the stock, down from their previous price target of $13.50. BMO Capital Markets’ price target points to a potential upside of 17.16% from the company’s previous close.

Several other brokerages have also commented on NABL. Needham & Company LLC decreased their target price on shares of N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Scotiabank dropped their target price on shares of N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a report on Tuesday.

N-able Price Performance

Shares of NABL traded up $0.06 during mid-day trading on Tuesday, hitting $7.26. The company’s stock had a trading volume of 971,319 shares, compared to its average volume of 840,504. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a 1-year low of $6.75 and a 1-year high of $15.48. The firm has a market capitalization of $1.35 billion, a P/E ratio of 36.28 and a beta of 0.42. The firm has a 50-day simple moving average of $9.62 and a 200 day simple moving average of $11.05.

Hedge Funds Weigh In On N-able

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after purchasing an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in N-able in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC grew its holdings in N-able by 67.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after buying an additional 1,309 shares during the last quarter. KBC Group NV increased its position in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of N-able in the fourth quarter worth $83,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.