Needham & Company LLC Cuts N-able (NYSE:NABL) Price Target to $4.00

N-able (NYSE:NABL) had its price target reduced by Needham & Company LLC from $6.50 to $4.00 in a report issued on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on NABL. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Zacks Research lowered shares of N-able from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Royal Bank Of Canada cut shares of N-able from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $6.00 to $4.00 in a research note on Tuesday. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Scotiabank lifted their target price on shares of N-able from $5.25 to $5.75 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $5.08.

N-able Stock Performance

NABL opened at $3.69 on Tuesday. The stock has a market cap of $698.02 million, a P/E ratio of -184.75 and a beta of 0.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $3.97 and its 200 day simple moving average is $4.50. N-able has a 1-year low of $2.92 and a 1-year high of $8.73.

N-able (NYSE:NABL) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $138.22 million during the quarter, compared to the consensus estimate of $138.08 million. N-able had a positive return on equity of 3.54% and a negative net margin of 0.88%.N-able’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. As a group, equities analysts anticipate that N-able will post 0.22 EPS for the current fiscal year.

Institutional Trading of N-able

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in N-able by 212.6% in the 1st quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock valued at $883,000 after purchasing an additional 84,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of N-able by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after buying an additional 1,825 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of N-able during the second quarter worth about $396,000. Norges Bank purchased a new stake in shares of N-able during the second quarter worth about $327,000. Finally, Quantbot Technologies LP acquired a new position in shares of N-able in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

N-able Company Profile

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.