Needham & Company LLC Reaffirms Buy Rating for N-able (NYSE:NABL)

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABLFree Report) in a research report released on Friday morning, Benzinga reports. They currently have a $16.50 target price on the stock.

Separately, Royal Bank of Canada increased their price objective on shares of N-able from $16.00 to $17.00 and gave the stock an outperform rating in a research note on Friday, February 23rd.

Read Our Latest Stock Report on NABL

N-able Price Performance

NYSE NABL opened at $12.57 on Friday. The business’s fifty day moving average is $12.71 and its 200 day moving average is $12.85. N-able has a fifty-two week low of $11.50 and a fifty-two week high of $15.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market capitalization of $2.32 billion, a PE ratio of 89.79 and a beta of 0.40.

N-able (NYSE:NABLGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $108.42 million for the quarter, compared to analysts’ expectations of $106.86 million. N-able had a return on equity of 4.38% and a net margin of 6.27%. Sell-side analysts predict that N-able will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On N-able

A number of institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of N-able by 19.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,637 shares of the company’s stock valued at $176,000 after purchasing an additional 2,260 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in N-able by 138.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 53,767 shares of the company’s stock valued at $694,000 after buying an additional 31,244 shares in the last quarter. Victory Capital Management Inc. bought a new stake in N-able in the 3rd quarter worth approximately $303,000. Illinois Municipal Retirement Fund bought a new position in shares of N-able during the 3rd quarter valued at approximately $487,000. Finally, Jump Financial LLC grew its holdings in shares of N-able by 221.8% in the third quarter. Jump Financial LLC now owns 73,922 shares of the company’s stock valued at $954,000 after purchasing an additional 50,948 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

About N-able

(Get Free Report)

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.

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