Wall Street Zen Upgrades N-able (NYSE:NABL) to “Buy”

N-able (NYSE:NABL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Zacks Research raised N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $6.00 to $4.00 in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a report on Friday, July 17th. Scotiabank lowered their price objective on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, BMO Capital Markets dropped their target price on shares of N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.08.

N-able Stock Performance

NABL stock opened at $4.63 on Friday. The firm has a market cap of $875.60 million, a PE ratio of -231.75 and a beta of 0.46. 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 business has a 50 day moving average of $4.03 and a 200-day moving average of $4.15. N-able has a 12-month low of $2.92 and a 12-month high of $8.73.

N-able (NYSE:NABL) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%. The company had revenue of $138.22 million during the quarter, compared to the consensus estimate of $138.08 million. During the same period last year, the business posted $0.11 earnings per share. N-able’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side 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 initiated a stock buyback plan on Friday, August 28th that permits the company to buy back $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NABL. AXQ Capital LP purchased a new stake in N-able in the 2nd quarter worth about $190,000. Lexington Partners L.P. bought a new stake in N-able in the 2nd quarter valued at about $4,550,312. Bank of America Corp DE lifted its holdings in 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 during the last quarter. Quantinno Capital Management LP lifted its holdings in N-able by 522.0% during the first quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock valued at $663,000 after purchasing an additional 119,155 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in N-able by 68.4% during 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 during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About N-able

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.