N-able (NYSE:NABL) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of N-able (NYSE:NABL) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Needham & Company LLC lowered their target price on shares of N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $6.00 to $4.00 in a research note on Tuesday, August 11th. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. BMO Capital Markets lowered their price objective on shares of N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.08.

N-able Stock Up 3.0%

Shares of NABL stock opened at $4.63 on Friday. The stock’s fifty day moving average price is $4.03 and its 200 day moving average price is $4.15. N-able has a 1-year low of $2.92 and a 1-year high of $8.73. The company has a market cap of $875.60 million, a price-to-earnings ratio of -231.75 and a beta of 0.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.30.

N-able (NYSE:NABL) last released 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 analysts’ expectations of $138.08 million. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. On average, research analysts expect that N-able will post 0.23 earnings per share for the current fiscal year.

N-able announced that its Board of Directors has approved a share buyback plan on Friday, August 28th that permits the company to buy back $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On N-able

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in N-able by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after acquiring an additional 474,028 shares during the period. Lexington Partners L.P. acquired a new stake in shares of N-able in the second quarter worth $4,550,312. Renaissance Technologies LLC raised its holdings in shares of 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 last quarter. Bank of America Corp DE raised its holdings 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 worth $3,334,000 after purchasing an additional 105,518 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in N-able by 12.6% during the first quarter. Principal Financial Group Inc. now owns 612,729 shares of the company’s stock valued at $2,861,000 after purchasing an additional 68,742 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.