N-able (NYSE:NABL) Shares Up 5.3% - Should You Buy?

N-able, Inc. (NYSE:NABL - Get Free Report)'s share price was up 5.3% on Tuesday . The company traded as high as $8.20 and last traded at $8.38. Approximately 356,863 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 787,815 shares. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

NABL has been the topic of several research analyst reports. BMO Capital Markets restated a "market perform" rating and set a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Scotiabank boosted their price target on N-able from $8.75 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, March 14th. Royal Bank Of Canada cut their price objective 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. William Blair reiterated an "outperform" rating on shares of N-able in a research note on Friday, March 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 target price 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 three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $9.38.

N-able Trading Down 4.5%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.20. The company has a 50 day simple moving average of $7.52 and a two-hundred day simple moving average of $8.42. The firm has a market cap of $1.42 billion, a PE ratio of 83.72 and a beta of 0.61.

N-able (NYSE:NABL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. N-able had a return on equity of 5.20% and a net margin of 3.47%. The firm had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. Analysts expect that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able announced that its board has approved a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP boosted its holdings in N-able by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 51,869 shares of the company's stock valued at $484,000 after purchasing an additional 1,072 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after buying an additional 1,309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of N-able by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company's stock valued at $380,000 after buying an additional 1,541 shares during the period. Rhumbline Advisers boosted its stake in shares of N-able by 0.8% in the fourth quarter. Rhumbline Advisers now owns 198,871 shares of the company's stock worth $1,857,000 after buying an additional 1,586 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in N-able by 241.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,162 shares of the company's stock worth $30,000 after acquiring an additional 2,943 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

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.