N-able (NYSE:NABL) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of N-able (NYSE:NABL) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets dropped their price objective on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of N-able in a research note on Monday, November 11th.

N-able Trading Up 0.9 %

Shares of NABL stock opened at $10.37 on Thursday. The firm has a 50-day moving average price of $12.17 and a 200 day moving average price of $13.07. N-able has a twelve month low of $9.98 and a twelve month high of $15.48. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 51.85 and a beta of 0.47. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last announced its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share 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 firm had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same quarter in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts forecast that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Peter C. Anastos sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $13.04, for a total transaction of $208,640.00. Following the completion of the sale, the executive vice president now owns 322,774 shares in the company, valued at approximately $4,208,972.96. The trade was a 4.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.43% of the company’s stock.

Institutional Trading of N-able

Institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of N-able during the 1st quarter worth about $986,000. Stanley Laman Group Ltd. grew its holdings in shares of N-able by 25.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 212,406 shares of the company’s stock worth $3,235,000 after purchasing an additional 43,454 shares during the period. Janus Henderson Group PLC boosted its holdings in N-able by 1,041.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,311 shares of the company’s stock worth $2,866,000 after acquiring an additional 200,095 shares during the period. Applied Fundamental Research LLC purchased a new position in N-able in the 2nd quarter worth approximately $2,306,000. Finally, Edgestream Partners L.P. boosted its holdings in N-able by 61.4% in the 2nd quarter. Edgestream Partners L.P. now owns 295,145 shares of the company’s stock worth $4,495,000 after acquiring an additional 112,236 shares during the period. Hedge funds and other institutional investors 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.