Price T Rowe Associates Inc. MD Increases Stock Position in N-able, Inc. (NYSE:NABL)

Price T Rowe Associates Inc. MD raised its holdings in N-able, Inc. (NYSE:NABL) by 11.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,764 shares of the company’s stock after purchasing an additional 4,821 shares during the period. Price T Rowe Associates Inc. MD’s holdings in N-able were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NABL. Vanguard Group Inc. lifted its stake in shares of N-able by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,330,440 shares of the company’s stock valued at $87,146,000 after buying an additional 161,725 shares during the period. Crescent Park Management L.P. lifted its stake in shares of N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock valued at $8,854,000 after buying an additional 229,943 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of N-able by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 487,320 shares of the company’s stock valued at $4,552,000 after buying an additional 16,253 shares during the period. Barclays PLC lifted its stake in shares of N-able by 398.2% during the third quarter. Barclays PLC now owns 143,095 shares of the company’s stock valued at $1,869,000 after buying an additional 114,374 shares during the period. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of N-able during the fourth quarter valued at approximately $1,006,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

NABL has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Monday, May 5th. Scotiabank upped their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday, March 14th. Royal Bank of Canada dropped their price target on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of N-able in a research report on Friday, March 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $8.50 price target (down previously from $13.50) on shares of N-able in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.38.

N-able Price Performance

Shares of NYSE NABL opened at $8.20 on Wednesday. N-able, Inc. has a 1-year low of $6.07 and a 1-year high of $15.49. The business has a 50-day moving average of $7.08 and a 200-day moving average of $9.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 41.00 and a beta of 0.57.

N-able (NYSE:NABL) last issued its earnings results on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

N-able announced that its board has authorized a share buyback plan on Wednesday, March 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.