Scotiabank Issues Pessimistic Forecast for N-able (NYSE:NABL) Stock Price

N-able (NYSE:NABL) had its target price dropped by analysts at Scotiabank from $11.00 to $8.75 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 24.03% from the stock’s current price.

Other research analysts have also issued reports about the company. Needham & Company LLC decreased their target price on N-able from $16.50 to $10.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada decreased their price objective on shares of N-able from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. Finally, BMO Capital Markets cut their target price on shares of N-able from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Friday, November 8th.

N-able Trading Down 2.0 %

Shares of N-able stock opened at $7.06 on Tuesday. N-able has a 12-month low of $7.07 and a 12-month high of $15.48. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $9.62 and its 200-day moving average is $11.05. The stock has a market cap of $1.31 billion, a P/E ratio of 33.96 and a beta of 0.42.

Institutional Trading of N-able

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of N-able by 95.5% in the fourth quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after purchasing an additional 1,528 shares during the period. Aquatic Capital Management LLC acquired a new stake in N-able during the fourth quarter worth about $29,000. Tower Research Capital LLC TRC increased its holdings in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $30,000 after buying an additional 1,309 shares during the period. KBC Group NV raised its position in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after buying an additional 2,808 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of N-able during the 4th quarter worth approximately $83,000. 96.35% of the stock is currently owned by institutional investors.

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.