N-able (NYSE:NABL) Price Target Cut to $6.50 by Analysts at Needham & Company LLC

N-able (NYSE:NABL) had its target price lowered by stock analysts at Needham & Company LLC from $8.00 to $6.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 26.34% from the stock’s previous close.

Several other research firms have also recently commented on NABL. B. Riley Financial started coverage on shares of N-able in a research note on Friday, January 23rd. They issued a “buy” rating and a $10.00 target price for the company. Scotiabank lowered their target price on shares of N-able from $8.75 to $5.25 and set a “sector perform” rating for the company in a research note on Friday, February 20th. BMO Capital Markets lowered their target price on shares of N-able from $9.50 to $5.50 and set a “market perform” rating for the company in a research note on Friday, February 20th. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.45.

N-able Trading Down 3.1%

Shares of N-able stock opened at $5.15 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.19 and a quick ratio of 1.19. N-able has a 1 year low of $4.14 and a 1 year high of $9.04. The company has a market capitalization of $969.22 million, a P/E ratio of -57.17 and a beta of 0.64. The business has a 50 day moving average price of $4.88 and a 200 day moving average price of $6.25.

N-able (NYSE:NABL) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $133.68 million during the quarter, compared to the consensus estimate of $131.62 million. N-able had a positive return on equity of 3.17% and a negative net margin of 3.33%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. Sell-side analysts anticipate that N-able will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On N-able

A number of hedge funds have recently made changes to their positions in NABL. Topline Capital Management LLC purchased a new position in shares of N-able in the 3rd quarter valued at $3,545,000. SG Americas Securities LLC purchased a new position in shares of N-able in the 3rd quarter valued at $973,000. Applied Fundamental Research LLC raised its stake in shares of N-able by 18.3% in the 4th quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company’s stock valued at $9,371,000 after acquiring an additional 193,680 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of N-able by 15.5% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 208,845 shares of the company’s stock valued at $1,629,000 after acquiring an additional 28,065 shares during the period. Finally, CWM LLC raised its stake in shares of N-able by 136.9% in the 3rd quarter. CWM LLC now owns 50,207 shares of the company’s stock valued at $392,000 after acquiring an additional 29,016 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

About N-able

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.