Scotiabank Issues Pessimistic Forecast for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABLGet Free Report) had its price target dropped by research analysts at Scotiabank from $11.00 to $8.75 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 18.00% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reduced their price objective on shares of N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. BMO Capital Markets dropped 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 research report on Friday, November 8th. Finally, Needham & Company LLC dropped their target price on shares of N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday.

Get Our Latest Stock Analysis on NABL

N-able Price Performance

Shares of NABL opened at $7.42 on Tuesday. N-able has a twelve month low of $6.75 and a twelve month high of $15.48. The firm’s fifty day simple moving average is $9.53 and its 200-day simple moving average is $10.98. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 37.08 and a beta of 0.42. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in N-able by 95.5% during the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in N-able during the 4th quarter worth $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 during the last quarter. KBC Group NV grew its position in N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after purchasing an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in N-able during the 4th quarter worth $83,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

About N-able

(Get Free Report)

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.

Further Reading

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