N-able (NYSE:NABL) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of N-able (NYSE:NABL) in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $15.00 price objective on the stock.

NABL has been the subject of several other research reports. BMO Capital Markets cut their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of N-able in a report on Monday, November 11th.

N-able Stock Performance

Shares of NYSE:NABL traded down $0.03 during trading on Thursday, hitting $10.25. The company’s stock had a trading volume of 27,452 shares, compared to its average volume of 526,367. 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 market cap of $1.90 billion, a price-to-earnings ratio of 51.40 and a beta of 0.47. The company has a 50-day moving average of $12.21 and a 200-day moving average of $13.08. N-able has a 12 month low of $9.98 and a 12 month high of $15.48.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The business had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that N-able will post 0.28 earnings per share for the current year.

Insider Buying and Selling

In other N-able news, EVP Peter C. Anastos sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This represents a 4.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On N-able

Institutional investors and hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in N-able during the second quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of N-able by 644.2% during the second quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after purchasing an additional 3,163 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of N-able in the third quarter worth about $146,000. Entropy Technologies LP purchased a new stake in shares of N-able in the third quarter worth about $149,000. Finally, Summit Global Investments bought a new position in N-able during the second quarter valued at approximately $191,000. 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.