N-able (NYSE:NABL) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of N-able (NYSE:NABL) in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $15.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of N-able in a report on Monday, November 11th. BMO Capital Markets cut their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Friday, November 8th.

N-able Stock Up 0.9 %

Shares of NYSE:NABL opened at $10.37 on Thursday. The firm’s 50 day moving average price is $12.17 and its 200 day moving average price is $13.07. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 51.85 and a beta of 0.47. N-able has a fifty-two week low of $9.98 and a fifty-two week high of $15.48. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $114.75 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Peter C. Anastos sold 16,000 shares of N-able stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This trade represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in N-able in the 2nd quarter valued at $30,000. GAMMA Investing LLC grew its position in N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after buying an additional 3,163 shares during the last quarter. Verition Fund Management LLC purchased a new position in N-able in the 3rd quarter valued at $146,000. Entropy Technologies LP purchased a new position in N-able in the 3rd quarter valued at $149,000. Finally, Summit Global Investments purchased a new position in N-able in the 2nd quarter valued at $191,000. 96.35% of the stock is currently 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.