N-able (NYSE:NABL) Stock Price Target Raised at Scotiabank

N-able (NYSE:NABL) had its target price hoisted by research analysts at Scotiabank from $3.65 to $5.45 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank‘s price target indicates a potential upside of 11.89% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Needham & Company LLC lifted their price objective on shares of N-able from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research note on Thursday, October 15th. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Royal Bank Of Canada cut shares of N-able from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $6.00 to $4.00 in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Two equities 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 company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.04.

N-able Stock Down 1.0%

Shares of NYSE NABL traded down $0.05 during trading hours on Friday, hitting $4.87. The company had a trading volume of 920,889 shares, compared to its average volume of 1,922,051. N-able has a 1-year low of $2.92 and a 1-year high of $8.54. 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 firm’s 50 day moving average is $4.39 and its 200-day moving average is $4.48. The stock has a market capitalization of $920.16 million, a P/E ratio of -243.55 and a beta of 0.39.

N-able (NYSE:NABL) last issued its earnings results on Thursday, November 5th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $137.45 million for the quarter, compared to the consensus estimate of $135.03 million. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. On average, analysts expect that N-able will post 0.23 earnings per share for the current fiscal year.

N-able declared that its board has approved a stock buyback plan on Friday, August 28th that authorizes the company to buy back $50 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On N-able

Several large investors have recently modified their holdings of NABL. Lexington Partners L.P. acquired a new stake in shares of N-able during the 2nd quarter worth about $4,550,312. Arrowstreet Capital Limited Partnership bought a new stake in shares of N-able during the 1st quarter worth about $2,642,000. Dimensional Fund Advisors LP grew its stake in N-able by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after buying an additional 474,028 shares during the last quarter. Renaissance Technologies LLC grew its stake in N-able by 68.4% in the 1st quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock valued at $4,112,000 after buying an additional 357,500 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in N-able in the 3rd quarter valued at about $605,000. 96.35% of the stock is owned by institutional investors.

About N-able

N-able, Inc is a software company that provides technology solutions to managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and midsize businesses through cloud-based tools and services.

The company’s offerings include remote monitoring and management software, endpoint security, backup and disaster recovery, email security, password management, and other cybersecurity and data protection solutions.