N-able (NYSE:NABL) Stock Moved Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded N-able from “hold” to “buy,” although the broader analyst consensus remains “hold,” with an average price target of $5.08.
• N-able’s latest quarterly results largely matched expectations, with earnings per share of $0.10 and revenue of $138.22 million, up 5.3% year over year.
• The company authorized a $50 million share-repurchase program, allowing it to buy back up to 6.7% of outstanding shares; institutional investors own 96.35% of the stock.

N-able (NYSE:NABL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the company. Needham & Company LLC dropped their target price on N-able from $6.50 to $4.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings restated a "sell (d)" rating on shares of N-able in a report on Friday, July 17th. Zacks Research raised shares of N-able from a "strong sell" rating to a "hold" rating in a research report on Friday, August 14th. Royal Bank Of Canada downgraded shares of N-able from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $6.00 to $4.00 in a research report on Tuesday, August 11th. Finally, Scotiabank cut their target price on shares of N-able from $5.75 to $3.65 and set a "sector perform" rating for the company in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.08.

N-able Stock Performance

Shares of N-able stock opened at $4.63 on Friday. The stock has a market cap of $875.60 million, a PE ratio of -231.75 and a beta of 0.46. The business has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $4.15. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. N-able has a 12 month low of $2.92 and a 12 month high of $8.73.

N-able (NYSE:NABL - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $138.22 million for the quarter, compared to analyst estimates of $138.08 million. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%. N-able's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts anticipate that N-able will post 0.23 EPS for the current fiscal year.

N-able declared that its Board of Directors has authorized a stock repurchase program on Friday, August 28th that permits the company to buy back $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its stock through open market purchases. Share repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On N-able

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in N-able by 68.4% in the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company's stock valued at $4,112,000 after acquiring an additional 357,500 shares during the last quarter. Lexington Partners L.P. acquired a new position in shares of N-able during the 2nd quarter worth $4,550,312. Dimensional Fund Advisors LP increased its stake in shares of N-able by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock worth $22,277,000 after purchasing an additional 474,028 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of N-able during the 1st quarter worth $2,642,000. Finally, Gabelli Funds LLC raised its holdings in shares of N-able by 33.2% during the 1st quarter. Gabelli Funds LLC now owns 200,657 shares of the company's stock valued at $937,000 after purchasing an additional 50,048 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Company Profile

N-able, Inc NYSE: NABL provides cloud-based software and technology solutions designed for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses.

The company's offerings include remote monitoring and management, endpoint protection, data backup and recovery, password and documentation management, email security, vulnerability assessment and other cybersecurity tools. Its product portfolio includes N-central, N-sight, Cove Data Protection, Passportal and Mail Assure, among other solutions.

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