N-able (NYSE:NABL) Price Target Raised to $9.00

N-able (NYSE:NABL) had its price target increased by Scotiabank from $8.75 to $9.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

NABL has been the topic of several other reports. Royal Bank of Canada lowered their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. BMO Capital Markets reiterated a “market perform” rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of N-able in a report on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Stock Performance

NYSE NABL opened at $7.61 on Friday. N-able has a twelve month low of $6.75 and a twelve month high of $15.49. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41. The company’s 50-day simple moving average is $9.24 and its 200 day simple moving average is $10.71.

N-able announced that its board has authorized a share buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of N-able

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of N-able by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock worth $87,146,000 after purchasing an additional 161,725 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock valued at $32,969,000 after buying an additional 179,305 shares during the period. State Street Corp boosted its holdings in N-able by 2.4% during the third quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after buying an additional 75,003 shares during the last quarter. Geode Capital Management LLC grew its position in shares of N-able by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock worth $20,870,000 after buying an additional 15,145 shares during the period. Finally, Applied Fundamental Research LLC increased its stake in shares of N-able by 32.8% in the 4th quarter. Applied Fundamental Research LLC now owns 1,083,033 shares of the company’s stock valued at $10,116,000 after acquiring an additional 267,399 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.