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

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

Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of N-able from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Scotiabank reissued a “sector perform” rating and set a $8.75 target price (up from $8.30) on shares of N-able in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.31.

N-able Price Performance

N-able stock opened at $7.49 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $7.88. N-able has a 12 month low of $6.07 and a 12 month high of $10.49. The stock has a market capitalization of $1.39 billion, a PE ratio of -249.50 and a beta of 0.61.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. N-able had a negative net margin of 1.31% and a positive return on equity of 4.17%. The company had revenue of $131.71 million for the quarter, compared to analysts’ expectations of $127.48 million. During the same period in the previous year, the company posted $0.13 EPS. N-able’s revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that N-able will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On N-able

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sunriver Management LLC raised its holdings in N-able by 39.7% during the second quarter. Sunriver Management LLC now owns 6,398,641 shares of the company’s stock worth $51,829,000 after purchasing an additional 1,817,978 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of N-able in the second quarter valued at $9,332,000. Ameriprise Financial Inc. raised its stake in shares of N-able by 516.8% during 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 during the last quarter. Trigran Investments Inc. purchased a new stake in shares of N-able in the 1st quarter worth about $4,963,000. Finally, Invenomic Capital Management LP acquired a new stake in N-able in the 1st quarter valued at about $4,192,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Company Profile

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.