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

Needham & Company LLC reaffirmed their buy rating on shares of N-able (NYSE:NABL) 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) 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

In other news, EVP Kathleen Pai sold 13,390 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $15.02, for a total value of $201,117.80. Following the completion of the transaction, the executive vice president now owns 538,194 shares of the company’s stock, valued at $8,083,673.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other N-able news, EVP Frank Colletti sold 3,333 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $15.24, for a total value of $50,794.92. Following the sale, the executive vice president now directly owns 453,475 shares in the company, valued at $6,910,959. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kathleen Pai sold 13,390 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $15.02, for a total transaction of $201,117.80. Following the completion of the sale, the executive vice president now directly owns 538,194 shares of the company’s stock, valued at $8,083,673.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,432 shares of company stock valued at $322,736. Insiders own 1.43% of the company’s stock.

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.