N-able (NYSE:NABL) Price Target Raised to $9.00

N-able (NYSE:NABL) had its target price hoisted by Scotiabank from $8.75 to $9.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

NABL has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of N-able in a report on Friday. BMO Capital Markets restated a “market perform” rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reduced their target price on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, N-able presently has an average rating of “Moderate Buy” and an average target price of $9.38.

N-able Stock Down 3.0 %

Shares of N-able stock opened at $7.61 on Friday. N-able has a 1 year low of $6.75 and a 1 year high of $15.49. 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 capitalization of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41. The business has a 50-day moving average of $9.24 and a two-hundred day moving average of $10.71.

N-able declared that its Board of Directors has authorized a stock repurchase program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of N-able

A number of institutional investors have recently made changes to their positions in NABL. Applied Fundamental Research LLC increased its stake in N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after buying an additional 664,198 shares during the last quarter. Norges Bank acquired a new stake in shares of N-able in the fourth quarter valued at about $3,450,000. Scalar Gauge Management LLC raised its holdings in N-able by 40.0% during the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after acquiring an additional 279,387 shares in the last quarter. Millennium Management LLC boosted its position 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 during the last quarter. Finally, Crescent Park Management L.P. grew its stake in N-able by 32.0% in 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. 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.