N-able (NYSE:NABL) Board of Directors Approves Share Buyback Program

N-able (NYSE:NABL) announced that its board has authorized a stock buyback program on Wednesday, March 12th, RTT News reports. The company plans to buyback $75.00 million in shares. This buyback authorization permits the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on shares of N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. 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, March 4th. Royal Bank of Canada lowered their target price on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Finally, BMO Capital Markets restated a “market perform” rating and set a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th.

N-able Stock Up 0.2 %

Shares of NABL stock traded up $0.02 on Wednesday, reaching $7.14. 1,113,330 shares of the company were exchanged, compared to its average volume of 595,663. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The company has a 50-day moving average of $9.30 and a 200-day moving average of $10.79. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 35.68 and a beta of 0.41. N-able has a one year low of $6.75 and a one year high of $15.49.

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.