N-able (NYSE:NABL) Earns Outperform Rating from William Blair

William Blair reissued their outperform rating on shares of N-able (NYSE:NABL) in a research note issued to investors on Friday,RTT News reports.

NABL has been the topic of several other reports. Royal Bank of Canada lowered their price target on N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Scotiabank lifted their price target on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Friday. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $8.50 price target (down from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, N-able presently has an average rating of “Moderate Buy” and an average target price of $9.38.

N-able Stock Down 3.0 %

NABL opened at $7.61 on Friday. N-able has a 12 month low of $6.75 and a 12 month high of $15.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The stock has a market cap of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41. The stock’s 50 day moving average price is $9.24 and its 200 day moving average price is $10.71.

N-able announced that its board has initiated a share repurchase plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 5.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On N-able

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in N-able by 95.5% during the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after buying an additional 1,528 shares in the last quarter. Aquatic Capital Management LLC bought a new position in N-able during the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC raised its holdings in N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after buying an additional 1,309 shares in the last quarter. KBC Group NV raised its holdings in N-able by 104.7% during the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in N-able during the fourth quarter valued at about $83,000. 96.35% of the stock is currently owned by institutional investors.

N-able Company Profile

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.