N-able (NYSE:NABL) Price Target Cut to $11.00 by Analysts at Scotiabank

N-able (NYSE:NABL) had its price target decreased by Scotiabank from $11.20 to $11.00 in a report released on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on the company. BMO Capital Markets cut their target price on 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. Royal Bank of Canada cut their price target on N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of N-able in a research note on Friday, November 22nd.

N-able Stock Performance

NYSE:NABL opened at $9.44 on Tuesday. The company has a market capitalization of $1.75 billion, a PE ratio of 47.22 and a beta of 0.41. N-able has a fifty-two week low of $8.91 and a fifty-two week high of $15.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The company has a 50 day simple moving average of $9.87 and a two-hundred day simple moving average of $11.88.

N-able (NYSE:NABL) last announced its earnings results 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. The business had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. Research analysts anticipate that N-able will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NABL. State Street Corp raised its stake in shares of N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after purchasing an additional 75,003 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP raised its position in N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock valued at $32,698,000 after buying an additional 226,532 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of N-able by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock valued at $20,870,000 after purchasing an additional 15,145 shares during the last quarter. Finally, Scalar Gauge Management LLC grew its position in N-able by 40.0% in the 3rd quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after purchasing an additional 279,387 shares in the last quarter. 96.35% of the stock is owned by 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.