N-able (NYSE:NABL) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of N-able (NYSE:NABL) in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. Zacks Research cut N-able from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 25th. BMO Capital Markets reduced their price objective on N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, February 20th. B. Riley Financial initiated coverage on N-able in a research note on Friday, January 23rd. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of N-able from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, N-able presently has an average rating of “Hold” and a consensus price target of $7.75.

N-able Price Performance

N-able stock opened at $5.11 on Thursday. N-able has a 52-week low of $4.15 and a 52-week high of $9.04. The firm has a market capitalization of $961.68 million, a price-to-earnings ratio of -56.72 and a beta of 0.65. The company has a fifty day simple moving average of $5.55 and a 200-day simple moving average of $6.97. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.48.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $130.27 million during the quarter, compared to analysts’ expectations of $127.07 million. N-able had a positive return on equity of 3.17% and a negative net margin of 3.33%.The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, equities analysts anticipate that N-able will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On N-able

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NABL. Sunriver Management LLC lifted its stake in shares of N-able by 39.7% in the 2nd quarter. Sunriver Management LLC now owns 6,398,641 shares of the company’s stock valued at $51,829,000 after purchasing an additional 1,817,978 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in N-able by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,296,098 shares of the company’s stock valued at $32,136,000 after buying an additional 282,584 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in N-able by 3.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,157,615 shares of the company’s stock valued at $24,629,000 after buying an additional 100,539 shares during the last quarter. Geode Capital Management LLC lifted its position in N-able by 4.4% in the second quarter. Geode Capital Management LLC now owns 1,732,516 shares of the company’s stock valued at $14,035,000 after buying an additional 73,405 shares during the last quarter. Finally, Crescent Park Management L.P. boosted its stake in N-able by 0.8% during the second 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. Institutional investors and hedge funds own 96.35% of the company’s stock.

N-able Company Profile

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.