N-able (NYSE:NABL) Earns “Buy” Rating from Needham & Company LLC

N-able (NYSE:NABL)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $16.50 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 59.11% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reduced their price target on shares of N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $15.00 target price on shares of N-able in a research report on Thursday.

N-able Stock Performance

Shares of N-able stock opened at $10.37 on Friday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.93 billion, a PE ratio of 51.85 and a beta of 0.47. The company has a 50 day moving average of $12.17 and a 200-day moving average of $13.07. N-able has a 1-year low of $9.98 and a 1-year high of $15.48.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The firm had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the prior year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the business’s 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 sale, the executive vice president now owns 322,774 shares of the company’s stock, valued at $4,208,972.96. The trade was a 4.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of N-able in the second quarter valued at about $30,000. GAMMA Investing LLC increased its position in N-able by 644.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after purchasing an additional 3,163 shares during the period. Verition Fund Management LLC bought a new position in N-able during the 3rd quarter worth approximately $146,000. Entropy Technologies LP acquired a new position in shares of N-able in the 3rd quarter worth approximately $149,000. Finally, Summit Global Investments acquired a new position in shares of N-able in the 2nd quarter worth approximately $191,000. 96.35% of the stock is owned by institutional investors and hedge funds.

About N-able

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.