N-able (NYSE:NABL) Stock Price Down 0.9%

N-able, Inc. (NYSE:NABL) fell 0.9% during trading on Thursday . The company traded as low as $12.08 and last traded at $12.22. 445,307 shares were traded during mid-day trading, a decline of 13% from the average session volume of 509,169 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NABL. Royal Bank of Canada upped their target price on N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of N-able in a research note on Thursday, February 22nd.

N-able Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a 50 day simple moving average of $12.91 and a 200-day simple moving average of $12.89. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 101.84 and a beta of 0.38.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. N-able had a net margin of 5.55% and a return on equity of 4.20%. The business had revenue of $108.42 million for the quarter, compared to the consensus estimate of $106.86 million. On average, sell-side analysts forecast that N-able, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new stake in shares of N-able during the third quarter worth $73,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of N-able during the third quarter worth $103,000. Harbor Capital Advisors Inc. raised its position in shares of N-able by 25.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,578 shares of the company’s stock worth $180,000 after acquiring an additional 2,744 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of N-able by 19.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,637 shares of the company’s stock worth $176,000 after acquiring an additional 2,260 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of N-able during the third quarter worth $178,000. 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.