N-able (NYSE:NABL) Price Target Cut to $12.00 by Analysts at Royal Bank of Canada

N-able (NYSE:NABL) had its target price trimmed by Royal Bank of Canada from $15.00 to $12.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on NABL. Scotiabank upgraded shares of N-able to a “hold” rating in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. Finally, BMO Capital Markets decreased their price objective 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 Performance

Shares of N-able stock opened at $9.44 on Tuesday. The business has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $11.88. N-able has a one year low of $8.91 and a one year high of $15.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 47.22 and a beta of 0.41.

N-able (NYSE:NABL) last issued 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. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same period in the prior year, the firm earned $0.03 earnings per share. N-able’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts anticipate that N-able will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NABL. Impact Partnership Wealth LLC purchased a new stake in N-able in the 4th quarter valued at about $104,000. Harbor Capital Advisors Inc. increased its position in shares of N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock valued at $142,000 after acquiring an additional 2,764 shares during the last quarter. Verition Fund Management LLC bought a new stake in N-able during the third quarter worth $146,000. Entropy Technologies LP purchased a new position in N-able in the third quarter worth $149,000. Finally, Aigen Investment Management LP grew its stake in N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after purchasing an additional 3,863 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.