N-able (NYSE:NABL) Price Target Cut to $10.00 by Analysts at Needham & Company LLC

N-able (NYSE:NABL) had its price objective lowered by Needham & Company LLC from $16.50 to $10.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on NABL. Scotiabank reduced their price target on N-able from $11.20 to $11.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. Royal Bank of Canada reduced their target price on N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Finally, BMO Capital Markets lowered their price target on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th.

N-able Stock Down 28.2 %

Shares of N-able stock opened at $7.20 on Monday. N-able has a 52-week low of $7.07 and a 52-week high of $15.48. The firm’s 50 day moving average price is $9.62 and its 200-day moving average price is $11.05. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.34 billion, a P/E ratio of 36.00 and a beta of 0.42.

Hedge Funds Weigh In On N-able

Several hedge funds have recently made changes to their positions in the company. Applied Fundamental Research LLC lifted its position in N-able by 438.6% during the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after acquiring an additional 664,198 shares during the period. Norges Bank acquired a new stake in shares of N-able during the fourth quarter worth about $3,450,000. Scalar Gauge Management LLC boosted its position in N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after buying an additional 279,387 shares during the last quarter. Millennium Management LLC increased its holdings in N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock worth $7,396,000 after buying an additional 258,979 shares during the period. Finally, Crescent Park Management L.P. raised its position in N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after buying an additional 229,943 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

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.