N-able's (NABL) Buy Rating Reaffirmed at Needham & Company LLC

N-able (NYSE:NABL - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $16.50 price target on the stock. Needham & Company LLC's target price would suggest a potential upside of 27.61% from the company's previous close.

Separately, Royal Bank of Canada upped their price objective on N-able from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Friday, February 23rd.

N-able Stock Performance

Shares of NABL stock traded up $0.26 during trading on Thursday, reaching $12.93. 780,127 shares of the company's stock were exchanged, compared to its average volume of 504,495. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.39 billion, a PE ratio of 107.76 and a beta of 0.40. N-able has a twelve month low of $11.50 and a twelve month high of $15.44. The firm's fifty day moving average price is $12.78 and its 200-day moving average price is $12.85.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. N-able had a return on equity of 4.20% and a net margin of 5.55%. The firm had revenue of $108.42 million for the quarter, compared to analyst estimates of $106.86 million. As a group, sell-side analysts anticipate that N-able will post 0.25 EPS for the current year.

Institutional Trading of N-able

A number of institutional investors have recently modified their holdings of NABL. Vanguard Group Inc. boosted its stake in N-able by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company's stock valued at $115,239,000 after buying an additional 284,112 shares in the last quarter. Sunriver Management LLC boosted its stake in N-able by 28.7% in the fourth quarter. Sunriver Management LLC now owns 2,847,909 shares of the company's stock valued at $37,735,000 after buying an additional 635,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in N-able by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company's stock valued at $32,814,000 after buying an additional 144,098 shares in the last quarter. Sea Cliff Partners Management LP acquired a new stake in N-able in the fourth quarter valued at about $16,940,000. Finally, Norges Bank acquired a new stake in N-able in the fourth quarter valued at about $8,402,000. 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.