N-able’s (NABL) Outperform Rating Reiterated at Royal Bank of Canada

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

A number of other equities analysts have also recently issued reports on NABL. BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of N-able in a report on Monday, November 11th.

N-able Price Performance

Shares of NABL opened at $10.37 on Thursday. N-able has a 52 week low of $9.98 and a 52 week high of $15.48. 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 firm has a market cap of $1.93 billion, a price-to-earnings ratio of 51.85 and a beta of 0.47. The stock has a 50 day moving average of $12.17 and a 200-day moving average of $13.07.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, analysts forecast that N-able will post 0.28 EPS for the current year.

Insider Buying and Selling at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. The trade was a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On N-able

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in N-able during the 2nd quarter worth $30,000. GAMMA Investing LLC grew its position in N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after buying an additional 3,163 shares in the last quarter. Verition Fund Management LLC acquired a new position in N-able during the 3rd quarter valued at about $146,000. Entropy Technologies LP bought a new stake in shares of N-able during the 3rd quarter worth about $149,000. Finally, Aigen Investment Management LP lifted its stake in shares of N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after acquiring an additional 3,863 shares during the period. 96.35% of the stock is owned by 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.