N-able (NYSE:NABL) Sets New 12-Month Low – Here’s What Happened

Shares of N-able, Inc. (NYSE:NABL) reached a new 52-week low during trading on Monday . The company traded as low as $6.07 and last traded at $6.22, with a volume of 828557 shares traded. The stock had previously closed at $6.35.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $8.50 price target (down from $13.50) on shares of N-able in a research note on Tuesday, March 4th. Royal Bank of Canada reduced their price objective on N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. William Blair reaffirmed an “outperform” rating on shares of N-able in a report on Friday, March 14th. Scotiabank raised their price target on shares of N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, March 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of N-able in a report on Friday, March 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

N-able Stock Performance

The firm’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $9.60. The firm has a market cap of $1.18 billion, a PE ratio of 31.10 and a beta of 0.57. 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 announced that its board has initiated a stock repurchase program on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NABL. Occudo Quantitative Strategies LP raised its stake in N-able by 2.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 51,869 shares of the company’s stock valued at $484,000 after buying an additional 1,072 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in N-able by 67.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock worth $30,000 after purchasing an additional 1,309 shares during the last quarter. Blue Trust Inc. boosted its holdings in N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock valued at $29,000 after purchasing an additional 1,528 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in N-able by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company’s stock worth $380,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of N-able by 0.8% in the 4th quarter. Rhumbline Advisers now owns 198,871 shares of the company’s stock valued at $1,857,000 after buying an additional 1,586 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.