N-able (NYSE:NABL) Reaches New 52-Week Low - What's Next?

Shares of N-able, Inc. (NYSE:NABL - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $6.07 and last traded at $6.22, with a volume of 828557 shares. The stock had previously closed at $6.35.

Analysts Set New Price Targets

NABL has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on shares of N-able from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of N-able in a research note on Friday, March 14th. Scotiabank raised 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. BMO Capital Markets reiterated a "market perform" rating and issued a $8.50 price objective (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Finally, William Blair reissued an "outperform" rating on shares of N-able in a report on Friday, March 14th. Two investment 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 stock has a consensus rating of "Moderate Buy" and an average price target of $9.38.

N-able Price Performance

The stock has a market capitalization of $1.32 billion, a P/E ratio of 35.00 and a beta of 0.57. The company's 50 day simple moving average is $7.53 and its two-hundred day simple moving average is $9.48. 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 announced that its board has approved a share buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On N-able

Several institutional investors have recently bought and sold shares of NABL. Vanguard Group Inc. increased its stake in shares of N-able by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company's stock valued at $87,146,000 after buying an additional 161,725 shares in the last quarter. Crescent Park Management L.P. grew its holdings in N-able by 32.0% during 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. Bank of New York Mellon Corp increased its position in N-able by 3.5% in the 4th quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company's stock valued at $4,552,000 after acquiring an additional 16,253 shares in the last quarter. Barclays PLC raised its stake in shares of N-able by 398.2% in the third quarter. Barclays PLC now owns 143,095 shares of the company's stock worth $1,869,000 after acquiring an additional 114,374 shares during the last quarter. Finally, Conestoga Capital Advisors LLC acquired a new position in shares of N-able during the fourth quarter worth approximately $1,006,000. 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.