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

N-able (NYSE:NABL) had its price objective decreased by Royal Bank of Canada from $12.00 to $10.00 in a research note released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages have also weighed in on NABL. Needham & Company LLC decreased their price objective on shares of N-able from $16.50 to $10.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets decreased 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 report on Friday, November 8th. Finally, Scotiabank decreased their price objective on shares of N-able from $11.00 to $8.75 and set a “sector perform” rating for the company in a report on Tuesday.

N-able Price Performance

NABL opened at $7.47 on Tuesday. The company has a fifty day simple moving average of $9.48 and a 200 day simple moving average of $10.96. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 37.33 and a beta of 0.41. N-able has a twelve month low of $6.75 and a twelve month high of $15.48. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its position in shares of N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after buying an additional 1,528 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of N-able in the 4th quarter worth about $29,000. Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 1,309 shares during the last quarter. KBC Group NV lifted its position in 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 purchasing an additional 2,808 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in N-able in the 4th quarter valued at about $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.