N-able (NYSE:NABL) Price Target Cut to $10.00 by Analysts at Needham & Company LLC

N-able (NYSE:NABL) had its target price trimmed by Needham & Company LLC from $16.50 to $10.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently commented on NABL. Royal Bank of Canada lowered their target price on N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 21st. BMO Capital Markets lowered their target price on 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. Finally, Scotiabank lowered their target price on N-able from $11.20 to $11.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st.

N-able Stock Up 2.7 %

Shares of NABL opened at $7.42 on Monday. N-able has a 52 week low of $6.75 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 company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 37.08 and a beta of 0.42. The stock’s 50-day moving average price is $9.53 and its 200-day moving average price is $10.98.

Hedge Funds Weigh In On N-able

Hedge funds have recently bought and sold shares of the business. Applied Fundamental Research LLC boosted its position in N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Barclays PLC boosted its position in N-able by 398.2% during the third quarter. Barclays PLC now owns 143,095 shares of the company’s stock worth $1,869,000 after purchasing an additional 114,374 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of N-able in the fourth quarter valued at approximately $1,006,000. Algert Global LLC lifted its position in shares of N-able by 73.6% in the third quarter. Algert Global LLC now owns 161,100 shares of the company’s stock valued at $2,104,000 after acquiring an additional 68,320 shares in the last quarter. Finally, Atom Investors LP lifted its position in shares of 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 acquiring an additional 58,087 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.