N-able (NYSE:NABL) PT Raised to $13.00 at Needham & Company LLC

N-able (NYSE:NABLGet Rating) had its price objective hoisted by stock analysts at Needham & Company LLC from $12.00 to $13.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 11.68% from the company’s current price.

N-able Stock Performance

NYSE NABL opened at $11.64 on Thursday. The stock has a market cap of $2.10 billion, a PE ratio of 166.60 and a beta of 0.45. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.55. N-able has a twelve month low of $8.12 and a twelve month high of $13.48. The stock has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $9.89.

N-able (NYSE:NABLGet Rating) last posted its earnings results on Thursday, August 11th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). N-able had a return on equity of 4.51% and a net margin of 3.71%. The firm had revenue of $91.60 million for the quarter, compared to analyst estimates of $91.16 million. During the same period in the previous year, the company posted $0.07 EPS. N-able’s revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that N-able will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Frank Colletti sold 20,242 shares of the stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $10.34, for a total transaction of $209,302.28. Following the transaction, the vice president now owns 278,233 shares of the company’s stock, valued at approximately $2,876,929.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On N-able

Hedge funds have recently bought and sold shares of the stock. Davy Global Fund Management Ltd increased its holdings in shares of N-able by 25.1% in the 1st quarter. Davy Global Fund Management Ltd now owns 154,929 shares of the company’s stock valued at $1,410,000 after acquiring an additional 31,072 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of N-able in the 1st quarter valued at about $99,000. Cove Street Capital LLC increased its holdings in shares of N-able by 29.8% in the 1st quarter. Cove Street Capital LLC now owns 605,188 shares of the company’s stock valued at $5,507,000 after acquiring an additional 138,774 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of N-able in the 1st quarter valued at about $249,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of N-able by 59.0% in the 1st quarter. Qube Research & Technologies Ltd now owns 237,269 shares of the company’s stock valued at $2,159,000 after acquiring an additional 88,087 shares during the last quarter. Institutional investors and hedge funds own 99.33% of the company’s stock.

About N-able

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N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

Further Reading

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