Royal Bank of Canada Reiterates “Outperform” Rating for N-able (NYSE:NABL)

N-able (NYSE:NABL)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock. Royal Bank of Canada’s price target points to a potential upside of 46.06% from the company’s previous close.

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

N-able Price Performance

NYSE NABL traded up $0.11 on Thursday, reaching $10.27. 43,075 shares of the stock traded hands, compared to its average volume of 526,784. The firm’s fifty day simple moving average is $12.26 and its 200 day simple moving average is $13.10. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 51.35 and a beta of 0.47. N-able has a 12 month low of $9.98 and a 12 month high of $15.48. 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 (NYSE:NABL) last posted 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. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, research analysts predict that N-able will post 0.28 EPS for the current fiscal year.

Insider Activity at N-able

In related news, EVP Peter C. Anastos sold 16,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the sale, the executive vice president now directly owns 322,774 shares in the company, valued at approximately $4,208,972.96. This trade represents a 4.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of N-able by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock worth $115,193,000 after acquiring an additional 116,293 shares during the last quarter. State Street Corp raised 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. Dimensional Fund Advisors LP grew its holdings in N-able by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares in the last quarter. Sea Cliff Partners Management LP grew its position in N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after purchasing an additional 226,532 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in N-able by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock worth $20,870,000 after acquiring an additional 15,145 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

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.