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Needham Sticks to Their Buy Rating for N-able (NABL)

In a report released today, Mike Cikos from Needham maintained a Buy rating on N-able (NABLResearch Report), with a price target of $10.50. The company’s shares closed last Wednesday at $9.25, close to its 52-week low of $8.12.

According to TipRanks.com, Cikos has 0 stars on 0-5 stars ranking scale with an average return of -11.9% and a 18.9% success rate. Cikos covers the Technology sector, focusing on stocks such as Ping Identity Holding, Tenable Holdings, and Cognyte Software.

Currently, the analyst consensus on N-able is a Strong Buy with an average price target of $13.30, implying a 45.5% upside from current levels. In a report issued on May 13, RBC Capital also maintained a Buy rating on the stock with a $13.00 price target.

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Based on N-able’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $89.5 million and net profit of $2.06 million. In comparison, last year the company earned revenue of $83.19 million and had a GAAP net loss of $4.28 million.

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N-able Inc empowers managed services providers (MSPs) to help small and medium enterprises navigate the digital evolution. Its flexible technology platform and powerful integrations help MSPs to monitor, manage, and protect their end customer systems, data, and networks. Its portfolio of security, automation, and backup and recovery solutions is built for IT services management professionals.

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