ArrowMark Colorado Holdings LLC recently announced the acquisition of new stake in N-able Inc. (NYSE:NABL). The institutional investor has increased its shareholding in the Technology company by 10.11% to 8.46 million shares with purchase of 0.78 million shares. This fresh investment now brings its stake to 4.68% valued currently at $86.93 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.37 million to 6.32 million shares. And BlackRock Fund Advisors has lifted its position by 1.55% or 62945.0 shares – to 4.12 million shares.
With over 0.48 million N-able Inc. (NABL) shares trading Friday and a closing price of $10.01 on the day, the dollar volume was approximately $4.81 million. The shares have shown a positive half year performance of 11.72% and its price on 01/13/23 lost nearly -0.40%. Currently, there are 180.32M common shares owned by the public and among those 179.58M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for NABL have a consensus price objective of $13.25. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $13.00. The average price target is 24.45% above its recent price level and an upside to the estimated low will see the stock gain 23.0% over that period. But an upside of 28.5% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
The top 3 mutual fund holders in N-able Inc. are Canada Pension Plan, Vanguard Explorer Fund, and Legal & General UCITS ETF PLC – C. Canada Pension Plan owns 17.79 million shares of the company’s stock, all valued at over $182.91 million. The company bought an additional 17.79 million shares recently to bring their total holdings to about 9.85% of the shares outstanding. Vanguard Explorer Fund bought 0.77 million shares to see its total holdings expand to 3.89 million shares valued at over $40.04 million and representing 2.16% of the shares outstanding. Legal & General UCITS ETF PLC – C sold 7735.0 shares to bring its total holdings to over 2.06 million shares at a value of $21.21 million. Legal & General UCITS ETF PLC – C now owns shares totaling to 1.14% of the shares outstanding.
Shares of N-able Inc. (NYSE: NABL) opened at $9.92, down -$0.13 from a prior closing price of $10.05. However, the script later moved the day high at 10.12, down -0.40%. The company’s stock has a 5-day price change of -0.40% and 1.32% over the past three months. NABL shares are trading -2.63% year to date (YTD), with the 12-month market performance down to -4.58% lower. It has a 12-month low price of $8.12 and touched a high of $12.22 over the same period. NABL has an average intraday trading volume of 365.00K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.59%, -6.46%, and -0.44% respectively.
Institutional ownership of N-able Inc. (NYSE: NABL) 180.32M shares outstanding. Mutual fund holders own 23.99%, while other institutional holders and individual stakeholders account for 69.81% and 10.10% respectively.
It has a market capitalization of $1.82B. The stock’s trailing 12-month PE ratio is 154.00, while the earnings-per-share (ttm) stands at $0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.00% over the week and 3.13% over the month.
Analysts forecast that N-able Inc. (NABL) will achieve an EPS of $0.07 for the current quarter, $0.06 for the next quarter and $0.35 for 2023. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 101.50%, and -5.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate N-able Inc. (NABL) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NABL, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on December 29, 2021, with the firm’s price target at $17-$13.50. BMO Capital Markets coverage for the N-able Inc. (NABL) stock in a research note released on October 05, 2021 offered a Market Perform rating with a price target of $14. JP Morgan on their part issued Overweight rating on August 26, 2021.
