N-able (NYSE:NABL) Receives “Buy” Rating from Needham & Company LLC

N-able (NYSE:NABL)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 31.49% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and set a $8.50 target price (down previously from $13.50) on shares of N-able in a report on Tuesday, March 4th. 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 research report on Tuesday, March 4th. Finally, Scotiabank reduced their target price on shares of N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

N-able Trading Down 3.0 %

Shares of N-able stock opened at $7.61 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The firm has a fifty day moving average price of $9.24 and a 200 day moving average price of $10.72. N-able has a 1 year low of $6.75 and a 1 year high of $15.49. The stock has a market cap of $1.44 billion, a PE ratio of 38.03 and a beta of 0.41.

N-able announced that its board has initiated 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 purchase up to 5.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On N-able

Large investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after buying an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of N-able in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC grew its position 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 last quarter. KBC Group NV grew its position 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 buying an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of N-able in the 4th quarter valued at $83,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.