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

Royal Bank of Canada reiterated their outperform rating on shares of N-able (NYSE:NABL) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $15.00 price target on the stock.

Several other research firms have also weighed in on NABL. BMO Capital Markets dropped their price target on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of N-able in a research report on Monday, November 11th.

N-able Trading Down 0.3 %

N-able stock traded down $0.03 during mid-day trading on Thursday, reaching $10.25. 27,452 shares of the company traded hands, compared to its average volume of 526,367. The firm’s 50 day moving average price is $12.21 and its 200 day moving average price is $13.08. N-able has a 52-week low of $9.98 and a 52-week high of $15.48. 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 capitalization of $1.90 billion, a price-to-earnings ratio of 51.40 and a beta of 0.47.

N-able (NYSE:NABL) last released 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 company had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, analysts anticipate that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling 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 shares were sold at an average price of $13.04, for a total transaction of $208,640.00. Following the sale, the executive vice president now owns 322,774 shares in the company, valued at $4,208,972.96. This represents a 4.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On N-able

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of N-able in the first quarter worth $986,000. Stanley Laman Group Ltd. raised its position in N-able by 25.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 212,406 shares of the company’s stock worth $3,235,000 after buying an additional 43,454 shares during the last quarter. Janus Henderson Group PLC lifted its stake in N-able by 1,041.3% during the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock valued at $2,866,000 after acquiring an additional 200,095 shares during the period. Applied Fundamental Research LLC purchased a new stake in shares of N-able during the 2nd quarter valued at about $2,306,000. Finally, Edgestream Partners L.P. boosted its holdings in shares of N-able by 61.4% during the 2nd quarter. Edgestream Partners L.P. now owns 295,145 shares of the company’s stock valued at $4,495,000 after acquiring an additional 112,236 shares during the last quarter. 96.35% of the stock is owned by 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.