N-able’s (NABL) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABLFree Report) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $16.50 target price on the stock.

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

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N-able Stock Performance

N-able stock opened at $12.57 on Friday. N-able has a 1-year low of $11.50 and a 1-year high of $15.44. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.32 billion, a PE ratio of 89.79 and a beta of 0.40. The firm’s 50 day simple moving average is $12.71 and its 200 day simple moving average is $12.85.

N-able (NYSE:NABLGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $108.42 million for the quarter, compared to analysts’ expectations of $106.86 million. N-able had a net margin of 6.27% and a return on equity of 4.38%. As a group, analysts expect that N-able will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On N-able

Several hedge funds have recently added to or reduced their stakes in NABL. Hancock Whitney Corp purchased a new position in shares of N-able during the 1st quarter valued at about $361,000. Jacobs Levy Equity Management Inc. bought a new position in N-able during the first quarter valued at approximately $986,000. Janus Henderson Group PLC raised its stake in shares of N-able by 1,041.3% during the first quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after acquiring an additional 200,095 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of N-able in the 1st quarter worth approximately $244,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of N-able by 14.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 40,372 shares of the company’s stock valued at $528,000 after purchasing an additional 5,225 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

About N-able

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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.

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