N-able (NYSE:NABL) Given New $6.00 Price Target at Needham & Company LLC

N-able (NYSE:NABL) had its price objective increased by Needham & Company LLC from $4.00 to $6.00 in a research note published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms also recently weighed in on NABL. BMO Capital Markets reduced their price target on shares of N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research report on Tuesday, August 11th. Scotiabank lowered their price objective on N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen upgraded N-able from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $6.00 to $4.00 in a report on Tuesday, August 11th. Finally, Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.48.

N-able Stock Down 3.6%

NABL opened at $4.88 on Thursday. N-able has a fifty-two week low of $2.92 and a fifty-two week high of $8.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.30 and a current ratio of 1.30. The company has a fifty day moving average of $4.39 and a two-hundred day moving average of $4.48. The stock has a market capitalization of $922.81 million, a price-to-earnings ratio of -244.25 and a beta of 0.39.

N-able (NYSE:NABL) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%. The company had revenue of $137.45 million for the quarter, compared to analyst estimates of $135.03 million. During the same period last year, the company earned $0.13 earnings per share. N-able’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that N-able will post 0.23 earnings per share for the current year.

N-able declared that its Board of Directors has authorized a stock repurchase program on Friday, August 28th that allows the company to repurchase $50 million in shares. This repurchase authorization allows the company to purchase up to 6.7% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of N-able

A number of hedge funds and other institutional investors have recently modified their holdings of NABL. Signaturefd LLC increased its stake in N-able by 165.3% during the 3rd quarter. Signaturefd LLC now owns 9,332 shares of the company’s stock worth $38,000 after buying an additional 5,815 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in N-able during the 1st quarter worth approximately $48,000. PNC Financial Services Group Inc. boosted its position in N-able by 251.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,983 shares of the company’s stock valued at $65,000 after buying an additional 10,007 shares during the period. Fifth Third Bancorp boosted its position in N-able by 988.2% in the 1st quarter. Fifth Third Bancorp now owns 19,414 shares of the company’s stock valued at $91,000 after buying an additional 17,630 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in N-able in the 1st quarter valued at approximately $92,000. 96.35% of the stock is owned by institutional investors and hedge funds.

About N-able

N-able, Inc is a software company that provides technology solutions to managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and midsize businesses through cloud-based tools and services.

The company’s offerings include remote monitoring and management software, endpoint security, backup and disaster recovery, email security, password management, and other cybersecurity and data protection solutions.