N-able (NYSE:NABL) Given New $12.00 Price Target at Royal Bank of Canada

N-able (NYSE:NABL) had its target price reduced by analysts at Royal Bank of Canada from $15.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 28.00% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of N-able in a report on Friday, November 22nd. Scotiabank upgraded N-able to a “hold” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets cut their price objective 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.

N-able Stock Up 1.5 %

Shares of N-able stock traded up $0.14 during trading hours on Tuesday, hitting $9.38. The company had a trading volume of 13,321 shares, compared to its average volume of 780,263. The company’s 50-day moving average is $9.90 and its two-hundred day moving average is $11.91. N-able has a twelve month low of $8.91 and a twelve month high of $15.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market cap of $1.74 billion, a P/E ratio of 46.78 and a beta of 0.41.

N-able (NYSE:NABL) last released 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 return on equity of 6.31% and a net margin of 8.08%. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Analysts anticipate that N-able will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NABL. Scalar Gauge Management LLC acquired a new position in shares of N-able in the second quarter worth approximately $10,650,000. Applied Fundamental Research LLC raised its holdings in N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of N-able by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP increased its position in shares of N-able by 11.8% during the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares during the period. Finally, 272 Capital LP acquired a new stake in N-able during the 2nd quarter worth about $2,988,000. 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.