Fintel reports that on August 11, 2023, JP Morgan maintained coverage of N-able (NYSE:NABL) with a Neutral recommendation.
Analyst Price Forecast Suggests 17.53% Upside
As of August 2, 2023, the average one-year price target for N-able is 15.94. The forecasts range from a low of 15.15 to a high of $16.80. The average price target represents an increase of 17.53% from its latest reported closing price of 13.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for N-able is 413MM, an increase of 4.49%. The projected annual non-GAAP EPS is 0.31.
What is the Fund Sentiment?
There are 346 funds or institutions reporting positions in N-able. This is an increase of 36 owner(s) or 11.61% in the last quarter. Average portfolio weight of all funds dedicated to NABL is 0.24%, a decrease of 22.11%. Total shares owned by institutions decreased in the last three months by 28.96% to 129,305K shares. 
The put/call ratio of NABL is 0.09, indicating a bullish outlook.
What are Other Shareholders Doing?
Silver Lake Group, L.L.C. holds 61,474K shares representing 33.77% ownership of the company. No change in the last quarter.
Canada Pension Plan Investment Board holds 9,266K shares representing 5.09% ownership of the company. In it's prior filing, the firm reported owning 15,266K shares, representing a decrease of 64.76%. The firm decreased its portfolio allocation in NABL by 36.50% over the last quarter.
ArrowMark Colorado Holdings holds 6,684K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 8,512K shares, representing a decrease of 27.35%. The firm decreased its portfolio allocation in NABL by 4.02% over the last quarter.
Harbourvest Partners holds 3,720K shares representing 2.04% ownership of the company. No change in the last quarter.
Neuberger Berman Group holds 2,481K shares representing 1.36% ownership of the company. In it's prior filing, the firm reported owning 2,480K shares, representing an increase of 0.05%. The firm decreased its portfolio allocation in NABL by 37.95% over the last quarter.
N-able Background Information
(This description is provided by the company.)
N-able empowers managed services providers (MSPs) to help small and medium enterprises navigate the digital evolution. With a flexible technology platform and powerful integrations, it makes it easy for MSPs to monitor, manage, and protect their end customer systems, data, and networks. Its growing portfolio of security, automation, and backup and recovery solutions is built for IT services management professionals. N-able simplifies complex ecosystems and enables customers to solve their most pressing challenges. It provides extensive, proactive support—through enriching partner programs, hands-on training, and growth resources—to help MSPs deliver exceptional value and achieve success at scale.
Additional reading:
- N-able Announces Second Quarter 2023 Results Exceeded $100 Million Quarterly Revenue Milestone with Q2 Revenue of $106.1 Million Raised Full-Year 2023 Revenue Outlook to $419.5 - $421.0 Million Raised Full-Year 2023 Adjusted EBITDA Outlook to $135.5
- Amendment No. 1, dated as of June 26, 2023, to the Credit Agreement among N-able International Holdings I, LLC, N-able International Holdings II, LLC, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and an issuing bank.
- N-able Announces First Quarter 2023 Results Raised Full-Year 2023 Constant Currency Revenue Outlook to 12% - 13% Year-Over-Year Growth Raised Full-Year 2023 Adjusted EBITDA Outlook to $127 - $130 Million with Adjusted EBITDA Margin of ~31% TTM Dollar
- Subsidiaries of N-able, Inc.
- N-able Announces Fourth Quarter and Full-Year 2022 Results Full-Year 2023 Revenue Outlook of 10% to 11% Year-Over-Year Growth, 11% to 12% on a Constant Currency Basis, and Adjusted EBITDA Margin Outlook of 30% to 31% Fourth Quarter Subscription Reven
This story originally appeared on Fintel.
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