Royal Bank of Canada Has Lowered Expectations for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its price objective cut by Royal Bank of Canada from $12.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 34.86% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets cut their price objective on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a report on Friday, November 8th. Scotiabank cut their price objective on N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reduced their price target on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday.

N-able Price Performance

NABL opened at $7.42 on Tuesday. The stock has a 50-day moving average price of $9.53 and a 200-day moving average price of $10.98. N-able has a 12-month low of $6.75 and a 12-month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.38 billion, a P/E ratio of 37.08 and a beta of 0.42.

Institutional Investors Weigh In On N-able

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in 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 buying an additional 1,528 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of N-able in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC lifted its stake 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 purchasing an additional 1,309 shares during the period. KBC Group NV lifted its stake 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 valued at $51,000 after purchasing an additional 2,808 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of N-able in the 4th quarter valued at approximately $83,000. 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.