N-able (NYSE:NABL) Price Target Raised to $9.00

N-able (NYSE:NABL) had its price objective lifted by Scotiabank from $8.75 to $9.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 21.03% from the stock’s current price.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. BMO Capital Markets reiterated a “market perform” rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of N-able in a research report on Friday.

N-able Stock Performance

Shares of NYSE NABL traded down $0.40 during trading on Friday, reaching $7.44. The stock had a trading volume of 632,493 shares, compared to its average volume of 599,745. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a market cap of $1.38 billion, a PE ratio of 37.23 and a beta of 0.41. N-able has a one year low of $6.75 and a one year high of $15.49. The firm’s 50 day moving average price is $9.28 and its two-hundred day moving average price is $10.77.

N-able announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On N-able

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased 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 worth $29,000 after acquiring an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in N-able during the 4th quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its position 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 worth $30,000 after purchasing an additional 1,309 shares in the last quarter. KBC Group NV lifted its holdings in shares of N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after purchasing an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of N-able in the fourth quarter worth $83,000. Hedge funds and other 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.