N-able’s (NABL) “Market Perform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of N-able (NYSE:NABL) in a report released on Tuesday,Benzinga reports. The firm currently has a $8.50 target price on the stock, down from their previous target price of $13.50.

Several other equities research analysts have also commented on NABL. Scotiabank decreased their price target on N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a research note on Tuesday. Needham & Company LLC lowered their target price on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada decreased their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday.

N-able Stock Performance

Shares of NABL opened at $7.47 on Tuesday. The company has a market capitalization of $1.39 billion, a PE ratio of 37.33 and a beta of 0.41. N-able has a 52-week low of $6.75 and a 52-week high of $15.48. The company has a 50-day simple moving average of $9.48 and a 200-day simple moving average of $10.96. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Applied Fundamental Research LLC raised its position in shares of N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after buying an additional 664,198 shares during the last quarter. Norges Bank acquired a new position in N-able in the 4th quarter valued at $3,450,000. Scalar Gauge Management LLC grew its holdings in N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after purchasing an additional 279,387 shares during the period. Millennium Management LLC increased its position in N-able by 48.6% during the fourth quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock worth $7,396,000 after purchasing an additional 258,979 shares during the last quarter. Finally, Crescent Park Management L.P. raised its stake in N-able by 32.0% during the fourth quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock worth $8,854,000 after purchasing an additional 229,943 shares during the period. 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.