UPDATE: Needham & Company Starts N-Able Inc. (NABL) at Buy Post-Spin

July 30, 2021 7:36 AM EDT
Get Alerts NABL Hot Sheet
Price: $14.59 +0.55%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 24
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(Updated - July 30, 2021 8:48 AM EDT)

Needham & Company analyst Mike Cikos initiates coverage on N-Able Inc. (NYSE: NABL) with a Buy rating and a price target of $17.00.

The analyst commented, "The spin-out of N-able from SolarWinds will provide management the freedom to realign resources, pursue strategic initiatives and invest in growth, we believe, all in support of its medium-term targets of mid-teens Revenue growth and a 30%+ Adjusted EBITDA margin. The over 25,000 MSPs that rely on N-able's purpose-built platform represent fuel for the company's growth. The platform’s multi-tenant architecture and scalability resonates with MSPs, and the service and automation provided allows them to spend more time “on” the business rather than “in” the business. We see MSPs growing in importance as SMEs deal with resource constraints, growing attack surfaces, and more heterogeneous environments. We think N-able is uniquely positioned to navigate this complexity, and we initiate coverage with a Buy rating and $17 PT."

For an analyst ratings summary and ratings history on N-Able Inc. click here. For more ratings news on N-Able Inc. click here.

Shares of N-Able Inc. closed at $13.47 yesterday.

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