N-able (NYSE:NABL) Authorizes Share Buyback Plan

N-able (NYSE:NABL) declared that its board has authorized a stock repurchase plan on Wednesday, March 12th, RTT News reports. The company plans 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 plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NABL. BMO Capital Markets reissued a “market perform” rating and issued a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Needham & Company LLC decreased their target price on N-able from $16.50 to $10.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada decreased their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Scotiabank decreased their target price on N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a research note on Tuesday, March 4th.

N-able Stock Performance

NABL opened at $7.14 on Thursday. The business’s 50-day moving average price is $9.30 and its two-hundred day moving average price is $10.79. N-able has a 1 year low of $6.75 and a 1 year high of $15.49. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 35.68 and a beta of 0.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

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.