Lazard Asset Management LLC Acquires 34,264 Shares of N-able, Inc. (NYSE:NABL)

Lazard Asset Management LLC grew its position in shares of N-able, Inc. (NYSE:NABL - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 147,104 shares of the company's stock after purchasing an additional 34,264 shares during the quarter. Lazard Asset Management LLC owned 0.08% of N-able worth $1,372,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of N-able by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock worth $87,146,000 after acquiring an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of N-able by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company's stock worth $32,969,000 after acquiring an additional 179,305 shares during the last quarter. Applied Fundamental Research LLC grew its holdings in shares of N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company's stock worth $10,116,000 after acquiring an additional 267,399 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of N-able by 9.3% in the 4th quarter. Legal & General Group Plc now owns 1,074,348 shares of the company's stock worth $10,034,000 after acquiring an additional 91,613 shares during the last quarter. Finally, Crescent Park Management L.P. grew its holdings in shares of N-able by 32.0% in the 4th 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 last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NABL. Scotiabank lifted their target price on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of N-able in a report on Monday, May 5th. BMO Capital Markets reissued a "market perform" rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. William Blair reissued an "outperform" rating on shares of N-able in a research report on Friday, March 14th. Finally, Royal Bank of Canada dropped their price target on N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, N-able currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

N-able Stock Down 0.5%

NYSE:NABL traded down $0.04 during trading hours on Friday, hitting $7.73. 995,441 shares of the company's stock traded hands, compared to its average volume of 773,943. The firm has a market cap of $1.46 billion, a P/E ratio of 38.63 and a beta of 0.57. N-able, Inc. has a twelve month low of $6.07 and a twelve month high of $15.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock's fifty day moving average price is $7.17 and its two-hundred day moving average price is $8.78.

N-able (NYSE:NABL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $118.20 million for the quarter, compared to analyst estimates of $115.65 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, research analysts expect that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

N-able announced that its board has initiated a share repurchase plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

N-able 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.