N-able (NYSE:NABL) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen lowered shares of N-able (NYSE:NABL) from a buy rating to a hold rating in a research note released on Sunday morning.

Several other brokerages have also recently issued reports on NABL. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of N-able in a research report on Monday, May 5th. Scotiabank reissued a “sector perform” rating and issued a $8.75 price objective (up previously from $8.30) on shares of N-able in a report on Friday, August 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.31.

N-able Stock Up 0.4%

Shares of N-able stock opened at $7.67 on Friday. N-able has a twelve month low of $6.07 and a twelve month high of $13.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $7.97 and its 200 day moving average is $7.94. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 383.69 and a beta of 0.62.

N-able (NYSE:NABL) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $131.25 million for the quarter, compared to analysts’ expectations of $125.87 million. N-able had a return on equity of 4.13% and a net margin of 0.59%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. Research analysts anticipate that N-able will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sunriver Management LLC grew its stake in shares of N-able by 39.7% during the 2nd quarter. Sunriver Management LLC now owns 6,398,641 shares of the company’s stock valued at $51,829,000 after acquiring an additional 1,817,978 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of N-able by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,529,875 shares of the company’s stock worth $32,969,000 after purchasing an additional 179,305 shares in the last quarter. Geode Capital Management LLC raised its position in shares of N-able by 4.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,732,516 shares of the company’s stock valued at $14,035,000 after purchasing an additional 73,405 shares during the period. Crescent Park Management L.P. boosted its holdings in N-able by 0.8% in the 2nd quarter. Crescent Park Management L.P. now owns 1,310,560 shares of the company’s stock worth $10,616,000 after buying an additional 10,071 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in N-able by 516.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock worth $10,325,000 after buying an additional 1,068,061 shares in the last quarter. Institutional investors 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.