Wall Street Zen Upgrades N-able (NYSE:NABL) to "Buy"

Key Points

• N-able has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting increased confidence in the company's prospects.
• Scotiabank raised its target price for N-able shares to $8.75, while Needham & Company maintained a higher target of $10.00, indicating positive market sentiment about the company's growth.
• N-able reported a quarterly revenue of $131.25 million, exceeding analysts' expectations, and its quarterly earnings per share increased to $0.11, up from $0.14 during the same period last year.

N-able (NYSE:NABL - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other brokerages also recently commented on NABL. Scotiabank lifted their price objective on N-able from $8.30 to $8.75 and gave the stock a "sector perform" rating in a research report on Friday. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of N-able in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.31.

N-able Price Performance

NABL traded up $0.26 during trading on Friday, hitting $7.71. The company's stock had a trading volume of 169,842 shares, compared to its average volume of 1,079,620. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. N-able has a twelve month low of $6.07 and a twelve month high of $13.15. The business's fifty day simple moving average is $8.00 and its 200 day simple moving average is $7.99. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 385.94 and a beta of 0.62.

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

Institutional Trading of N-able

A number of large investors have recently made changes to their positions in NABL. Penserra Capital Management LLC acquired a new stake in shares of N-able in the 2nd quarter valued at about $9,332,000. Sunriver Management LLC boosted its position in shares of N-able by 28.6% in the 1st quarter. Sunriver Management LLC now owns 4,580,663 shares of the company's stock valued at $32,477,000 after purchasing an additional 1,018,361 shares during the period. Trigran Investments Inc. acquired a new stake in shares of N-able in the 1st quarter valued at about $4,963,000. Invenomic Capital Management LP acquired a new stake in shares of N-able in the 1st quarter valued at about $4,192,000. Finally, Edgestream Partners L.P. raised its stake in N-able by 89.7% during the 1st quarter. Edgestream Partners L.P. now owns 790,993 shares of the company's stock valued at $5,608,000 after acquiring an additional 373,989 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

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.