N-able (NYSE:NABL) Price Target Lowered to $11.00 at Scotiabank

N-able (NYSE:NABL) had its target price trimmed by Scotiabank from $11.20 to $11.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Other analysts also recently issued reports about the company. BMO Capital Markets decreased their target price on 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. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. Finally, Royal Bank of Canada cut their price objective on shares of N-able from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday.

N-able Price Performance

Shares of NYSE:NABL opened at $9.44 on Tuesday. The company has a market capitalization of $1.75 billion, a P/E ratio of 47.22 and a beta of 0.41. The company’s 50-day moving average is $9.87 and its 200 day moving average is $11.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. N-able has a fifty-two week low of $8.91 and a fifty-two week high of $15.48.

N-able (NYSE:NABL) last released its earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $114.75 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that N-able will post 0.27 earnings per share for the current year.

Institutional Trading of N-able

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Impact Partnership Wealth LLC purchased a new position in shares of N-able during the 4th quarter valued at $104,000. Harbor Capital Advisors Inc. boosted its stake in N-able by 22.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock valued at $142,000 after buying an additional 2,764 shares during the period. Verition Fund Management LLC purchased a new position in N-able during the third quarter worth about $146,000. Entropy Technologies LP bought a new position in N-able in the 3rd quarter worth about $149,000. Finally, Aigen Investment Management LP raised its holdings in shares of N-able by 38.4% in the 3rd quarter. Aigen Investment Management LP now owns 13,915 shares of the company’s stock valued at $182,000 after acquiring an additional 3,863 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

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.