N-able (NYSE:NABL) Cut to Hold at Wall Street Zen

Key Points

• N-able (NYSE:NABL) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen.
• Despite the downgrade, other analysts like Needham & Company and Scotiabank have maintained positive outlooks, with target prices of $10.00 and $8.75 respectively.
• N-able reported earnings per share of $0.11 for the latest quarter, which exceeded analyst expectations, and the company experienced a revenue increase of 9.9% year-over-year.

N-able (NYSE:NABL - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

NABL has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of N-able in a report on Monday, May 5th. Scotiabank reaffirmed a "sector perform" rating and issued a $8.75 price objective (up previously from $8.30) on shares of N-able in a report on Friday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $9.31.

N-able Stock Performance

N-able stock opened at $7.67 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 383.69 and a beta of 0.62. The company has a fifty day moving average price of $7.97 and a two-hundred day moving average price of $7.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 1.24. N-able has a 12 month low of $6.07 and a 12 month high of $13.15.

N-able (NYSE:NABL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The firm had revenue of $131.25 million during the quarter, compared to the consensus estimate of $125.87 million. N-able had a net margin of 0.59% and a return on equity of 4.13%. The firm's revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Research analysts expect that N-able will post 0.27 earnings per share for the current year.

Institutional Trading of N-able

Several hedge funds have recently bought and sold shares of NABL. JPMorgan Chase & Co. lifted its position in N-able by 51.9% in the 4th quarter. JPMorgan Chase & Co. now owns 418,971 shares of the company's stock valued at $3,913,000 after purchasing an additional 143,065 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in N-able by 45.2% in the fourth quarter. Wells Fargo & Company MN now owns 36,598 shares of the company's stock worth $342,000 after purchasing an additional 11,388 shares during the period. Invesco Ltd. lifted its holdings in N-able by 5.0% in the fourth quarter. Invesco Ltd. now owns 483,663 shares of the company's stock worth $4,517,000 after purchasing an additional 22,892 shares during the period. Renaissance Technologies LLC lifted its holdings in N-able by 23.3% in the fourth quarter. Renaissance Technologies LLC now owns 693,417 shares of the company's stock worth $6,477,000 after purchasing an additional 131,117 shares during the period. Finally, Walleye Capital LLC acquired a new stake in N-able in the fourth quarter worth about $216,000. 96.35% of the stock is currently owned by institutional investors.

About N-able

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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