Needham & Company LLC Reiterates “Buy” Rating for N-able (NYSE:NABL)

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL) in a report issued on Friday,Benzinga reports. They currently have a $16.50 price target on the stock.

Other research analysts also recently issued reports about the stock. BMO Capital Markets lowered their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of N-able in a research report on Thursday, November 21st.

N-able Stock Down 0.6 %

NYSE NABL opened at $10.31 on Friday. 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 $9.98 and a 1-year high of $15.48. The company has a 50 day moving average of $12.12 and a 200-day moving average of $13.05. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 51.55 and a beta of 0.47.

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

Insider Transactions at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This represents a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in shares of N-able in the second quarter worth $30,000. GAMMA Investing LLC grew its stake in shares of N-able by 644.2% in the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock worth $56,000 after purchasing an additional 3,163 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of N-able in the third quarter worth $146,000. Entropy Technologies LP bought a new stake in shares of N-able in the third quarter worth $149,000. Finally, Summit Global Investments bought a new stake in shares of N-able in the second quarter worth $191,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.