Royal Bank of Canada Lowers N-able (NYSE:NABL) Price Target to $10.00

N-able (NYSE:NABL) had its price target decreased by equities research analysts at Royal Bank of Canada from $12.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 44.40% from the stock’s current price.

Several other research analysts have also weighed in on NABL. Scotiabank cut their target price on N-able from $11.00 to $8.75 and set a “sector perform” rating on the stock in a research report on Tuesday. BMO Capital Markets dropped their price objective 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. Finally, Needham & Company LLC decreased their target price on shares of N-able from $16.50 to $10.00 and set a “buy” rating for the company in a research note on Monday.

N-able Trading Down 3.8 %

N-able stock traded down $0.28 during trading on Tuesday, reaching $6.93. The company had a trading volume of 312,162 shares, compared to its average volume of 823,817. N-able has a 12-month low of $6.75 and a 12-month high of $15.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock’s 50 day moving average price is $9.62 and its two-hundred day moving average price is $11.05. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 34.63 and a beta of 0.42.

Hedge Funds Weigh In On N-able

Several large investors have recently bought and sold shares of the stock. Applied Fundamental Research LLC lifted its stake in shares of N-able by 438.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock worth $10,652,000 after acquiring an additional 664,198 shares during the period. Norges Bank bought a new position in N-able during the fourth quarter valued at about $3,450,000. Scalar Gauge Management LLC raised its position in N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock worth $12,781,000 after acquiring an additional 279,387 shares in the last quarter. Millennium Management LLC lifted its holdings in N-able by 48.6% in the 4th quarter. Millennium Management LLC now owns 791,871 shares of the company’s stock valued at $7,396,000 after acquiring an additional 258,979 shares during the last quarter. Finally, Crescent Park Management L.P. boosted its position in shares of N-able by 32.0% during the 4th quarter. Crescent Park Management L.P. now owns 947,984 shares of the company’s stock valued at $8,854,000 after purchasing an additional 229,943 shares in the last quarter. 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.