N-able (NYSE:NABL) Price Target Lowered to $12.00 at Royal Bank of Canada

N-able (NYSE:NABL) had its price target reduced by stock analysts at Royal Bank of Canada from $15.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 28.00% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of N-able in a research note on Friday, November 22nd. BMO Capital Markets decreased their target price on N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Finally, Scotiabank upgraded shares of N-able to a “hold” rating in a research note on Friday, December 6th.

N-able Stock Up 1.5 %

NYSE:NABL traded up $0.14 during trading hours on Tuesday, reaching $9.38. The company’s stock had a trading volume of 13,321 shares, compared to its average volume of 780,263. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market capitalization of $1.74 billion, a P/E ratio of 46.78 and a beta of 0.41. N-able has a 12 month low of $8.91 and a 12 month high of $15.48. The stock has a 50 day moving average price of $9.90 and a two-hundred day moving average price of $11.91.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $114.75 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that N-able will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On N-able

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares in the last quarter. Renaissance Technologies LLC raised its position in N-able by 4.5% during the second quarter. Renaissance Technologies LLC now owns 599,400 shares of the company’s stock valued at $9,129,000 after purchasing an additional 25,966 shares during the period. Gabelli Funds LLC grew its position in N-able by 40.0% in the 2nd quarter. Gabelli Funds LLC now owns 164,572 shares of the company’s stock valued at $2,506,000 after acquiring an additional 47,000 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of N-able by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 154,471 shares of the company’s stock worth $2,353,000 after buying an additional 10,224 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in shares of N-able during the second quarter valued at about $2,988,000. Hedge funds and other institutional investors 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.