Royal Bank of Canada Issues Pessimistic Forecast for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its price objective dropped by investment analysts at Royal Bank of Canada from $15.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 25.59% from the stock’s previous close.

NABL has been the subject of a number of other reports. BMO Capital Markets dropped their price target on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Friday, November 8th. Scotiabank raised N-able to a “hold” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of N-able in a research note on Friday, November 22nd.

N-able Stock Up 1.2 %

NABL stock opened at $9.56 on Tuesday. N-able has a one year low of $8.91 and a one year high of $15.48. The firm has a market cap of $1.77 billion, a PE ratio of 47.78 and a beta of 0.41. The firm’s 50 day moving average price is $9.84 and its 200-day moving average price is $11.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities research analysts anticipate that N-able will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NABL. Blue Trust Inc. boosted its position in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after buying an additional 1,528 shares during the period. KBC Group NV boosted its holdings in N-able by 104.7% in the fourth quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after purchasing an additional 2,808 shares during the period. Impact Partnership Wealth LLC acquired a new position in N-able during the 4th quarter worth $104,000. Harbor Capital Advisors Inc. increased its holdings in N-able by 22.3% during the 4th quarter. Harbor Capital Advisors Inc. now owns 15,176 shares of the company’s stock worth $142,000 after purchasing an additional 2,764 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in N-able in the 3rd quarter valued at about $146,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.