N-able (NYSE:NABL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of N-able (NYSE:NABL) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

NABL has been the subject of a number of other research reports. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Needham & Company LLC reduced their price objective on N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $6.00 to $4.00 in a report on Tuesday, August 11th. Scotiabank lowered their target price on N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.08.

N-able Stock Performance

NABL opened at $4.51 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.48. The company has a market cap of $852.93 million, a price-to-earnings ratio of -225.75 and a beta of 0.46. The company’s 50 day moving average is $4.02 and its 200 day moving average is $4.15. N-able has a 12-month low of $2.92 and a 12-month high of $8.73.

N-able (NYSE:NABL) last announced its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The company had revenue of $138.22 million during the quarter, compared to analyst estimates of $138.08 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that N-able will post 0.23 EPS for the current year.

N-able announced that its board has initiated a stock repurchase plan on Friday, August 28th that authorizes the company to buy back $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Stock buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On N-able

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new stake in shares of N-able during the 1st quarter worth approximately $48,000. PNC Financial Services Group Inc. boosted its position in shares of N-able by 251.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,983 shares of the company’s stock valued at $65,000 after acquiring an additional 10,007 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of N-able by 988.2% during the 1st quarter. Fifth Third Bancorp now owns 19,414 shares of the company’s stock valued at $91,000 after acquiring an additional 17,630 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of N-able in the first quarter valued at $92,000. Finally, Abel Hall LLC purchased a new position in shares of N-able in the first quarter valued at $94,000. Institutional investors own 96.35% of the company’s stock.

About N-able

N-able, Inc (NYSE: NABL) provides cloud-based software and technology solutions designed for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses.

The company’s offerings include remote monitoring and management, endpoint protection, data backup and recovery, password and documentation management, email security, vulnerability assessment and other cybersecurity tools. Its product portfolio includes N-central, N-sight, Cove Data Protection, Passportal and Mail Assure, among other solutions.