N-able’s (NABL) Outperform Rating Reaffirmed at William Blair

William Blair reiterated their outperform rating on shares of N-able (NYSE:NABL) in a research report report published on Friday morning,RTT News reports.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada cut their price target on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets restated a “market perform” rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of N-able in a report on Friday. Finally, Scotiabank upped their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Trading Down 3.0 %

Shares of NABL opened at $7.61 on Friday. N-able has a twelve month low of $6.75 and a twelve month high of $15.49. The company has a market cap of $1.41 billion, a P/E ratio of 38.03 and a beta of 0.41. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $9.24 and its 200-day simple moving average is $10.74.

N-able declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in N-able by 13.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,357 shares of the company’s stock worth $1,591,000 after acquiring an additional 19,861 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of N-able during the fourth quarter valued at about $443,000. Squarepoint Ops LLC lifted its position in shares of N-able by 567.0% during the fourth quarter. Squarepoint Ops LLC now owns 86,207 shares of the company’s stock valued at $805,000 after buying an additional 73,282 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of N-able by 340.6% during the fourth quarter. Two Sigma Advisers LP now owns 74,900 shares of the company’s stock valued at $700,000 after buying an additional 57,900 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of N-able by 46.9% during the fourth quarter. Two Sigma Investments LP now owns 159,612 shares of the company’s stock valued at $1,491,000 after buying an additional 50,926 shares during the last quarter. 96.35% of the stock is currently 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.