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

N-able (NYSE:NABL) had its target price reduced by Royal Bank of Canada from $15.00 to $12.00 in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

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

N-able Trading Up 0.8 %

NABL opened at $9.62 on Tuesday. N-able has a 52 week low of $8.91 and a 52 week 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. The business has a fifty day simple moving average of $9.82 and a 200-day simple moving average of $11.84. The firm has a market cap of $1.79 billion, a P/E ratio of 48.08 and a beta of 0.41.

N-able (NYSE:NABL) last announced its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $116.40 million during the quarter, compared to analysts’ expectations of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. N-able’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, equities analysts expect that N-able will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On N-able

Large investors have recently modified their holdings of the company. Applied Fundamental Research LLC increased its holdings in N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after buying an additional 664,198 shares during the last quarter. Barclays PLC increased its holdings in shares of N-able by 398.2% in the 3rd quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after acquiring an additional 114,374 shares during the last quarter. Algert Global LLC raised its position in shares of N-able by 73.6% during the 3rd quarter. Algert Global LLC now owns 161,100 shares of the company’s stock worth $2,104,000 after acquiring an additional 68,320 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 371,013 shares during the last quarter. Finally, Atom Investors LP boosted its holdings in N-able by 59.2% in the third quarter. Atom Investors LP now owns 156,126 shares of the company’s stock valued at $2,039,000 after purchasing an additional 58,087 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.