N-able (NYSE:NABL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of N-able (NYSE:NABL) in a report released on Monday morning,Benzinga reports. Needham & Company LLC currently has a $10.00 target price on the stock.

A number of other research firms have also recently commented on NABL. Scotiabank boosted their price objective on N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research report on Friday, March 14th. William Blair reaffirmed an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Royal Bank of Canada dropped their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $8.50 target price (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.38.

N-able Trading Up 0.1 %

Shares of NYSE:NABL opened at $7.17 on Monday. The business has a 50 day moving average of $7.17 and a two-hundred day moving average of $9.20. N-able has a 12-month low of $6.07 and a 12-month high of $15.49. The company has a market capitalization of $1.35 billion, a PE ratio of 35.83 and a beta of 0.57. 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 declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to buy up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of N-able

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after purchasing an additional 1,528 shares during the period. Aquatic Capital Management LLC acquired a new position in N-able during the fourth quarter worth $29,000. Tower Research Capital LLC TRC grew 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 worth $30,000 after acquiring an additional 1,309 shares during the period. KBC Group NV lifted its holdings in N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after acquiring an additional 2,808 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of N-able by 332.7% during the 1st quarter. GAMMA Investing LLC now owns 10,722 shares of the company’s stock worth $76,000 after purchasing an additional 8,244 shares in the last quarter. Institutional investors and hedge funds 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.