N-able (NYSE:NABL) Shares Down 2.6% – Time to Sell?

N-able, Inc. (NYSE:NABL) was down 2.6% on Friday . The stock traded as low as $7.22 and last traded at $7.64. Approximately 385,919 shares were traded during trading, a decline of 36% from the average daily volume of 598,753 shares. The stock had previously closed at $7.84.

Analysts Set New Price Targets

Several equities analysts have weighed in on NABL shares. BMO Capital Markets restated a “market perform” rating and set a $8.50 target price (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of N-able in a research note on Friday. Scotiabank lifted their target price on shares of N-able from $8.75 to $9.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Royal Bank of Canada dropped their price objective on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th.

N-able Stock Performance

The company has a market capitalization of $1.42 billion, a P/E ratio of 38.28 and a beta of 0.41. The stock’s fifty day moving average price is $9.28 and its 200-day moving average price is $10.77. 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 declared that its board has initiated a share buyback program on Wednesday, March 12th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the company to repurchase up to 5.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On N-able

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake 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 buying an additional 1,528 shares during the period. Aquatic Capital Management LLC bought a new stake in N-able during the fourth quarter worth $29,000. Tower Research Capital LLC TRC grew its position 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 valued at $30,000 after buying an additional 1,309 shares during the period. KBC Group NV grew its stake in shares of N-able by 104.7% during the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock worth $51,000 after acquiring an additional 2,808 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in N-able in the 4th quarter valued at approximately $83,000. 96.35% of the stock is owned by institutional investors.

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.