Scotiabank Issues Pessimistic Forecast for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its price objective reduced by research analysts at Scotiabank from $11.00 to $8.75 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 18.00% from the company’s current price.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada cut their target price on shares of N-able from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Finally, Needham & Company LLC cut their target price on shares of N-able from $16.50 to $10.00 and set a “buy” rating for the company in a research report on Monday.

N-able Stock Up 2.7 %

Shares of NYSE:NABL opened at $7.42 on Tuesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 37.08 and a beta of 0.42. The firm’s 50-day simple moving average is $9.53 and its 200-day simple moving average is $10.98. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a fifty-two week low of $6.75 and a fifty-two week high of $15.48.

Institutional Investors Weigh In On N-able

A number of institutional investors have recently bought and sold shares of NABL. Entropy Technologies LP purchased a new stake in N-able during the third quarter worth approximately $149,000. Aigen Investment Management LP grew its stake in N-able by 38.4% during the third quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock worth $182,000 after buying an additional 3,863 shares during the period. Victory Capital Management Inc. grew its stake in N-able by 14.4% during the third quarter. Victory Capital Management Inc. now owns 55,497 shares of the company’s stock worth $725,000 after buying an additional 7,000 shares during the period. MQS Management LLC purchased a new stake in N-able during the third quarter worth approximately $330,000. Finally, Quest Partners LLC grew its stake in N-able by 91.4% during the third quarter. Quest Partners LLC now owns 67,217 shares of the company’s stock worth $878,000 after buying an additional 32,094 shares during the period. 96.35% of the stock is currently 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.