N-able’s (NABL) “Market Perform” Rating Reaffirmed at BMO Capital Markets

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

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

N-able Stock Up 0.8 %

NABL stock traded up $0.06 during midday trading on Tuesday, reaching $7.26. 971,319 shares of the company were exchanged, compared to its average volume of 840,504. The stock’s 50-day simple moving average is $9.62 and its 200 day simple moving average is $11.05. N-able has a 1-year low of $6.75 and a 1-year high of $15.48. 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 company has a market cap of $1.35 billion, a price-to-earnings ratio of 36.28 and a beta of 0.42.

Institutional Investors Weigh In On N-able

A number of institutional investors and hedge funds have recently made changes to their positions in NABL. Vanguard Group Inc. raised its stake in N-able by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock valued at $87,146,000 after acquiring an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock valued at $32,969,000 after purchasing an additional 179,305 shares during the period. State Street Corp raised its stake in shares of N-able by 2.4% during the third quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after purchasing an additional 75,003 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of N-able by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock worth $20,870,000 after purchasing an additional 15,145 shares during the period. Finally, Applied Fundamental Research LLC grew its position in N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after buying an additional 267,399 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.