William Blair Reiterates Outperform Rating for N-able (NYSE:NABL)

N-able (NYSE:NABL)‘s stock had its “outperform” rating reissued by analysts at William Blair in a report released on Friday,RTT News reports.

Other research analysts have also recently issued research reports about the stock. Scotiabank boosted their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday. Royal Bank of Canada reduced their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. BMO Capital Markets restated a “market perform” rating and set a $8.50 price objective (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of N-able in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.38.

N-able Trading Down 3.0 %

NYSE NABL opened at $7.61 on Friday. 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 has a 52 week low of $6.75 and a 52 week high of $15.49. The stock has a market capitalization of $1.44 billion, a PE ratio of 38.03 and a beta of 0.41. The firm has a 50 day moving average of $9.24 and a two-hundred day moving average of $10.72.

N-able announced that its board has approved a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of N-able

Institutional investors and hedge funds have recently bought and sold shares of the business. Applied Fundamental Research LLC raised its position 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 purchasing an additional 664,198 shares during the last quarter. Barclays PLC raised its position in N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after purchasing an additional 114,374 shares during the last quarter. Conestoga Capital Advisors LLC purchased a new stake in N-able in the 4th quarter valued at $1,006,000. Algert Global LLC raised its position in N-able by 73.6% in the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company’s stock valued at $2,104,000 after purchasing an additional 68,320 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in N-able by 86.5% in the 4th quarter. Edgestream Partners L.P. now owns 417,004 shares of the company’s stock valued at $3,895,000 after buying an additional 193,387 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.