N-able’s (NABL) Buy Rating Reaffirmed at Needham & Company LLC

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

NABL has been the subject of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price objective on shares of N-able in a research report on Thursday. BMO Capital Markets cut their target price 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 Stock Up 1.0 %

N-able stock opened at $10.38 on Friday. N-able has a twelve month low of $9.98 and a twelve month high of $15.48. The stock has a 50 day moving average of $12.17 and a two-hundred day moving average of $13.06. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 51.90 and a beta of 0.47.

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

Insider Transactions at N-able

In other news, EVP Peter C. Anastos sold 16,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. This represents a 4.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.43% of the company’s stock.

Hedge Funds Weigh In On N-able

A number of large investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in N-able in the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC increased its stake in N-able by 644.2% in the 2nd 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 purchased a new position in N-able in the 3rd quarter valued at approximately $146,000. Entropy Technologies LP purchased a new position in N-able in the 3rd quarter valued at approximately $149,000. Finally, Aigen Investment Management LP increased its stake in N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after purchasing an additional 3,863 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.