N-able (NYSE:NABL) Reaches New 1-Year Low After Analyst Downgrade

N-able, Inc. (NYSE:NABL) hit a new 52-week low during mid-day trading on Monday after Needham & Company LLC lowered their price target on the stock from $16.50 to $10.00. Needham & Company LLC currently has a buy rating on the stock. N-able traded as low as $7.38 and last traded at $7.52, with a volume of 303129 shares changing hands. The stock had previously closed at $10.03.

Several other equities analysts also recently commented on NABL. BMO Capital Markets cut 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 report on Friday, November 8th. Royal Bank of Canada dropped their target price on shares of N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Scotiabank dropped their target price on shares of N-able from $11.20 to $11.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st.

Institutional Investors Weigh In On N-able

Several hedge funds have recently modified their holdings of the business. Applied Fundamental Research LLC lifted its position in N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after acquiring an additional 664,198 shares during the last quarter. Norges Bank purchased a new position in shares of N-able in the fourth quarter worth $3,450,000. Scalar Gauge Management LLC raised its holdings in shares of N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after buying an additional 279,387 shares during the last quarter. Millennium Management LLC raised its holdings in shares of N-able by 48.6% in the fourth 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 last quarter. Finally, Crescent Park Management L.P. increased its stake in shares of N-able by 32.0% in the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after acquiring an additional 229,943 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Price Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 36.00 and a beta of 0.42. The stock’s 50 day moving average price is $9.62 and its two-hundred 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.

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.