Needham & Company LLC Reiterates “Buy” Rating for N-able (NYSE:NABL)

N-able (NYSE:NABL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $16.50 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 27.61% from the stock’s previous close.

Separately, Royal Bank of Canada upped their price target on shares of N-able from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd.

N-able Price Performance

N-able stock traded up $0.26 during trading hours on Thursday, reaching $12.93. 780,127 shares of the stock were exchanged, compared to its average volume of 503,266. The stock has a 50 day moving average of $12.79 and a two-hundred day moving average of $12.85. N-able has a twelve month low of $11.50 and a twelve month high of $15.44. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.39 billion, a P/E ratio of 110.76 and a beta of 0.40.

N-able (NYSE:NABL) last released its earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. N-able had a return on equity of 4.20% and a net margin of 5.55%. The firm had revenue of $108.42 million during the quarter, compared to analysts’ expectations of $106.86 million. Equities analysts expect that N-able will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NABL. Vanguard Group Inc. boosted its position in shares of N-able by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 8,697,270 shares of the company’s stock worth $115,239,000 after purchasing an additional 284,112 shares in the last quarter. Sunriver Management LLC raised its holdings in shares of N-able by 28.7% in the 4th quarter. Sunriver Management LLC now owns 2,847,909 shares of the company’s stock worth $37,735,000 after acquiring an additional 635,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in N-able by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,476,547 shares of the company’s stock valued at $32,814,000 after purchasing an additional 144,098 shares during the last quarter. Sea Cliff Partners Management LP purchased a new stake in shares of N-able in the fourth quarter worth approximately $16,940,000. Finally, Norges Bank purchased a new position in shares of N-able in the 4th quarter worth about $8,402,000. Institutional investors and hedge funds 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.