Needham & Company LLC Reaffirms Buy Rating for N-able (NYSE:NABL)

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL) in a report released on Monday,Benzinga reports. The firm currently has a $16.50 target price on the stock.

Separately, BMO Capital Markets dropped their price target 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.

N-able Price Performance

NABL opened at $11.02 on Monday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 55.10 and a beta of 0.47. N-able has a fifty-two week low of $10.98 and a fifty-two week high of $15.48. The company’s 50-day moving average price is $12.46 and its 200 day moving average price is $13.17. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. During the same quarter last year, the business earned $0.03 earnings per share. N-able’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that N-able will post 0.27 earnings per share for the current year.

Insider Activity

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 value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares in the company, valued at $4,208,972.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.43% of the company’s stock.

Institutional Trading of N-able

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in N-able by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,813,563 shares of the company’s stock worth $115,193,000 after buying an additional 116,293 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 boosted its holdings in N-able by 11.8% during the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares in the last quarter. Applied Fundamental Research LLC boosted its holdings 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 buying an additional 664,198 shares in the last quarter. Finally, Scalar Gauge Management LLC bought a new stake in N-able during the second quarter worth approximately $10,650,000. 96.35% of the stock is currently 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.