N-able, Inc. (NYSE:NABL) Stock Has Consensus Price Target of $5.08 According to Brokerages

Key Points

• Analysts hold a neutral view: Eight analysts rate N-able “Hold” overall, with two sell, four hold, and two buy ratings. The consensus 12-month price target is $5.08, although several firms recently lowered their targets to between $3.65 and $4.00.
• Quarterly results met expectations: N-able reported adjusted EPS of $0.10, in line with estimates, while revenue rose 5.3% year over year to $138.22 million. The company has a negative net margin of 0.88%.
• The board authorized a $50 million buyback: The program permits repurchases of up to 6.7% of outstanding shares, signaling management’s view that the stock may be undervalued. Institutional investors own approximately 96.35% of N-able’s shares.

Shares of N-able, Inc. (NYSE:NABL - Get Free Report) have been given a consensus recommendation of "Hold" by the eight analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.08.

Several equities analysts have weighed in on NABL shares. Scotiabank dropped their target price on 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. Needham & Company LLC reduced their price target on shares of N-able from $6.50 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Zacks Research raised shares of N-able from a "strong sell" rating to a "hold" rating in a research note on Friday, August 14th. Wall Street Zen cut shares of N-able from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, BMO Capital Markets cut their target price on shares of N-able from $6.00 to $3.75 and set a "market perform" rating on the stock in a research note on Tuesday, August 11th.

N-able Trading Up 1.2%

NABL opened at $4.47 on Thursday. N-able has a 52 week low of $2.92 and a 52 week high of $8.73. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $4.03 and a 200-day simple moving average of $4.15. The firm has a market cap of $845.37 million, a P/E ratio of -223.75 and a beta of 0.46.

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

N-able declared that its Board of Directors has approved a stock buyback plan on Friday, August 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of N-able

A number of large investors have recently modified their holdings of NABL. Dimensional Fund Advisors LP raised its stake in shares of N-able by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock valued at $22,277,000 after acquiring an additional 474,028 shares in the last quarter. Lexington Partners L.P. acquired a new position in N-able during the 2nd quarter worth $4,550,312. Renaissance Technologies LLC increased its holdings in N-able by 68.4% during the 1st quarter. Renaissance Technologies LLC now owns 880,500 shares of the company's stock worth $4,112,000 after purchasing an additional 357,500 shares during the period. Bank of America Corp DE increased its holdings in N-able by 17.3% during the 1st quarter. Bank of America Corp DE now owns 713,869 shares of the company's stock worth $3,334,000 after purchasing an additional 105,518 shares during the period. Finally, Principal Financial Group Inc. raised its position in N-able by 12.6% in the 1st quarter. Principal Financial Group Inc. now owns 612,729 shares of the company's stock valued at $2,861,000 after purchasing an additional 68,742 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

About N-able

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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