N-able (NYSE:NABL) Given Buy Rating at Needham & Company LLC

N-able (NYSE:NABL - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. Needham & Company LLC's target price points to a potential upside of 32.98% from the company's previous close.

A number of other analysts have also commented on NABL. William Blair reaffirmed an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Royal Bank of Canada cut their target price on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Scotiabank increased their price target on shares of N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 price objective (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.38.

N-able Trading Down 0.4 %

NABL traded down $0.03 during midday trading on Monday, reaching $7.52. 1,752,034 shares of the company's stock traded hands, compared to its average volume of 736,169. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 37.60 and a beta of 0.57. N-able has a 52 week low of $6.07 and a 52 week high of $15.49. The firm has a fifty day moving average of $7.06 and a two-hundred day moving average of $9.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01.

N-able declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On N-able

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company's stock worth $29,000 after purchasing an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in N-able during the fourth quarter valued at $29,000. Tower Research Capital LLC TRC boosted its holdings in N-able by 67.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock worth $30,000 after acquiring an additional 1,309 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of N-able by 241.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,162 shares of the company's stock valued at $30,000 after acquiring an additional 2,943 shares in the last quarter. Finally, KBC Group NV raised its position in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company's stock worth $51,000 after purchasing an additional 2,808 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

N-able Company 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.