N-able (NYSE:NABL) Sets New 1-Year Low – Here’s Why

Shares of N-able, Inc. (NYSE:NABL) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.04 and last traded at $6.0650, with a volume of 582821 shares traded. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

NABL has been the topic of a number of research reports. Royal Bank Of Canada raised their price target on N-able from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. B. Riley began coverage on N-able in a research note on Friday, January 23rd. They set a “buy” rating and a $10.00 price target for the company. Wall Street Zen lowered shares of N-able from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Zacks Research downgraded shares of N-able from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.45.

N-able Stock Performance

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.14 billion, a P/E ratio of -204.83 and a beta of 0.61. The business’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $7.68.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $131.71 million during the quarter, compared to analysts’ expectations of $127.48 million. N-able had a negative net margin of 1.31% and a positive return on equity of 4.17%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. Sell-side analysts predict that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On N-able

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of N-able by 212.6% during the first quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock worth $883,000 after purchasing an additional 84,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in N-able by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock valued at $301,000 after buying an additional 1,825 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of N-able during the second quarter valued at approximately $163,000. Public Employees Retirement System of Ohio purchased a new position in shares of N-able in the second quarter worth $384,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of N-able by 9.3% in the second quarter. State of Alaska Department of Revenue now owns 42,745 shares of the company’s stock worth $345,000 after buying an additional 3,633 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Company Profile

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.