Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL – Free Report) in a report published on Friday morning, Benzinga reports. Needham & Company LLC currently has a $16.50 price objective on the stock.
N-able Stock Performance
NABL traded down $0.58 on Friday, hitting $13.05. 544,072 shares of the company’s stock were exchanged, compared to its average volume of 571,234. The firm has a market cap of $2.41 billion, a PE ratio of 93.21 and a beta of 0.47. The stock has a fifty day moving average of $14.25 and a two-hundred day moving average of $13.39. N-able has a twelve month low of $11.50 and a twelve month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.47.
N-able (NYSE:NABL – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The business had revenue of $119.40 million during the quarter, compared to analyst estimates of $116.83 million. N-able had a return on equity of 4.38% and a net margin of 6.27%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, research analysts anticipate that N-able will post 0.24 earnings per share for the current fiscal year.
Insider Activity
Institutional Trading of N-able
A number of hedge funds and other institutional investors have recently made changes to their positions in NABL. Louisiana State Employees Retirement System raised its position in shares of N-able by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the company’s stock worth $538,000 after purchasing an additional 900 shares during the period. ProShare Advisors LLC raised its holdings in N-able by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 14,094 shares of the company’s stock worth $184,000 after buying an additional 971 shares during the period. Illinois Municipal Retirement Fund lifted its stake in N-able by 3.2% during the first quarter. Illinois Municipal Retirement Fund now owns 40,467 shares of the company’s stock valued at $529,000 after buying an additional 1,242 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after buying an additional 1,668 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of N-able during the second quarter valued at approximately $30,000. 96.35% of the stock is currently owned by institutional investors.
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.
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