N-able (NYSE:NABL) Receives Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of N-able (NYSE:NABL) in a research report sent to investors on Friday,RTT News reports.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada dropped their price target on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of N-able in a report on Friday. Scotiabank boosted their target price on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Performance

Shares of NYSE NABL opened at $7.61 on Friday. The firm has a 50 day moving average of $9.24 and a 200 day moving average of $10.74. 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 capitalization of $1.41 billion, a price-to-earnings ratio of 38.03 and a beta of 0.41. N-able has a 12-month low of $6.75 and a 12-month high of $15.49.

N-able declared that its board has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On N-able

Hedge funds have recently modified their holdings of the stock. Applied Fundamental Research LLC raised its stake in N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Norges Bank purchased a new stake in N-able during the fourth quarter valued at $3,450,000. Scalar Gauge Management LLC raised its stake in N-able by 40.0% during the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after purchasing an additional 279,387 shares in the last quarter. Millennium Management LLC raised its stake in N-able by 48.6% during the fourth quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock valued at $7,396,000 after purchasing an additional 258,979 shares in the last quarter. Finally, Crescent Park Management L.P. raised its stake in N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock valued at $8,854,000 after purchasing an additional 229,943 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.