N-able (NYSE:NABL) Stock Price Down 0.9%

N-able, Inc. (NYSE:NABL) traded down 0.9% during mid-day trading on Thursday . The stock traded as low as $12.08 and last traded at $12.22. 445,307 shares were traded during mid-day trading, a decline of 13% from the average session volume of 509,169 shares. The stock had previously closed at $12.33.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NABL. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of N-able in a report on Thursday, February 22nd. Royal Bank of Canada upped their target price on N-able from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 23rd.

N-able Stock Up 1.5 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.75 and a quick ratio of 2.75. The business has a 50 day moving average of $12.89 and a 200 day moving average of $12.88. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 103.34 and a beta of 0.38.

N-able (NYSE:NABL) last announced its earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. N-able had a return on equity of 4.20% and a net margin of 5.55%. The business had revenue of $108.42 million for the quarter, compared to the consensus estimate of $106.86 million. On average, equities analysts anticipate that N-able, Inc. will post 0.25 EPS for the current year.

Institutional Trading of N-able

Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its holdings in shares of N-able by 1.0% in the third quarter. Swiss National Bank now owns 140,050 shares of the company’s stock valued at $1,807,000 after purchasing an additional 1,400 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in N-able by 4.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 39,225 shares of the company’s stock worth $520,000 after acquiring an additional 1,497 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of N-able by 19.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,637 shares of the company’s stock worth $176,000 after acquiring an additional 2,260 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of N-able by 9.9% in the third quarter. Y.D. More Investments Ltd now owns 25,562 shares of the company’s stock valued at $345,000 after purchasing an additional 2,308 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of N-able by 5.1% in the fourth quarter. Teacher Retirement System of Texas now owns 56,496 shares of the company’s stock worth $749,000 after purchasing an additional 2,729 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

About N-able

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.