JPMorgan Chase & Co. cut shares of N-able (NYSE:NABL – Get Rating) from an overweight rating to a neutral rating in a research note released on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $11.00 price target on the stock, down from their prior price target of $13.00.

A number of other research firms also recently commented on NABL. Royal Bank of Canada raised their price objective on shares of N-able from $12.00 to $14.00 and gave the stock an outperform rating in a report on Friday, November 11th. Needham & Company LLC raised their price objective on shares of N-able from $12.00 to $13.00 and gave the stock a buy rating in a report on Thursday, November 10th.

N-able Stock Performance

NYSE NABL opened at $9.85 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 164.19 and a beta of 0.52. The company's fifty day moving average is $10.63 and its two-hundred day moving average is $10.22. N-able has a 52-week low of $8.12 and a 52-week high of $12.22.

Hedge Funds Weigh In On N-able

Several institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd lifted its holdings in N-able by 298.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,462 shares of the company's stock valued at $32,000 after purchasing an additional 2,594 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in N-able during the 2nd quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its holdings in N-able by 94.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,734 shares of the company's stock valued at $62,000 after purchasing an additional 3,277 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in N-able by 18.9% during the 3rd quarter. Victory Capital Management Inc. now owns 23,293 shares of the company's stock valued at $215,000 after purchasing an additional 3,701 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in N-able by 36.9% during the 2nd quarter. SG Americas Securities LLC now owns 14,892 shares of the company's stock valued at $134,000 after purchasing an additional 4,015 shares during the last quarter. 97.72% of the stock is owned by institutional investors.

About N-able

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N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

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