Needham & Company LLC Reiterates “Buy” Rating for N-able (NYSE:NABL)

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL) in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $16.50 target price on the stock.

NABL has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 target price on shares of N-able in a research report on Thursday, November 21st. BMO Capital Markets reduced their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th.

N-able Trading Down 0.6 %

NYSE:NABL opened at $10.31 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 51.55 and a beta of 0.47. N-able has a 52 week low of $9.98 and a 52 week high of $15.48. The firm has a 50-day moving average price of $12.12 and a two-hundred day moving average price of $13.05.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The firm had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. On average, equities analysts expect that N-able will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Peter C. Anastos sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $13.04, for a total value of $208,640.00. Following the completion of the transaction, the executive vice president now directly owns 322,774 shares of the company’s stock, valued at approximately $4,208,972.96. This trade represents a 4.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in N-able in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC boosted its holdings in N-able by 644.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,654 shares of the company’s stock valued at $56,000 after purchasing an additional 3,163 shares during the period. Verition Fund Management LLC bought a new position in N-able in the 3rd quarter valued at $146,000. Entropy Technologies LP bought a new position in N-able in the 3rd quarter valued at $149,000. Finally, Summit Global Investments bought a new position in N-able in the 2nd quarter valued at $191,000. 96.35% of the stock is owned by institutional investors.

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.