N-able, Inc. (NYSE:NABL) Stock Has Consensus Price Target of $5.08

N-able, Inc. (NYSE:NABL) has received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.08.

NABL has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $6.00 to $4.00 in a research note on Tuesday, August 11th. Needham & Company LLC dropped their price target on N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th.

Hedge Funds Weigh In On N-able

Institutional investors have recently bought and sold shares of the stock. AXQ Capital LP purchased a new stake in N-able in the second quarter worth about $190,000. Lexington Partners L.P. purchased a new position in shares of N-able in the 2nd quarter valued at approximately $4,550,312. Bank of America Corp DE boosted its position in shares of N-able by 17.3% during the first quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock valued at $3,334,000 after purchasing an additional 105,518 shares in the last quarter. Quantinno Capital Management LP grew its stake in N-able by 522.0% in the first quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock worth $663,000 after purchasing an additional 119,155 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in N-able by 68.4% in the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock worth $4,112,000 after purchasing an additional 357,500 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

N-able Stock Down 2.5%

Shares of NYSE NABL opened at $4.51 on Thursday. The firm’s fifty day moving average is $4.02 and its 200 day moving average is $4.15. N-able has a 52 week low of $2.92 and a 52 week high of $8.73. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. The company has a market cap of $852.93 million, a price-to-earnings ratio of -225.75 and a beta of 0.46.

N-able (NYSE:NABL) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $138.22 million during the quarter, compared to analyst estimates of $138.08 million. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 EPS. On average, equities research analysts expect that N-able will post 0.23 earnings per share for the current year.

N-able announced that its Board of Directors has authorized a share repurchase plan on Friday, August 28th that authorizes the company to buy back $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Share buyback plans are often an indication that the company’s management believes its stock is undervalued.

N-able Company Profile

N-able, Inc (NYSE: NABL) provides cloud-based software and technology solutions designed for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses.

The company’s offerings include remote monitoring and management, endpoint protection, data backup and recovery, password and documentation management, email security, vulnerability assessment and other cybersecurity tools. Its product portfolio includes N-central, N-sight, Cove Data Protection, Passportal and Mail Assure, among other solutions.