N-able (NYSE:NABL) Trading Up 10.1% – Here’s Why

N-able, Inc. (NYSE:NABL)’s share price was up 10.1% during mid-day trading on Monday . The stock traded as high as $4.05 and last traded at $4.0750. Approximately 741,353 shares were traded during trading, a decline of 51% from the average daily volume of 1,524,370 shares. The stock had previously closed at $3.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NABL shares. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Scotiabank lifted their target price on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Needham & Company LLC dropped their target price on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a research report on Tuesday, April 21st. Finally, William Blair reiterated an “underperform” rating on shares of N-able in a research report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.55.

N-able Trading Up 10.4%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.49. The company has a market cap of $769.53 million, a P/E ratio of -81.70 and a beta of 0.54. The stock’s 50 day moving average is $4.54 and its 200-day moving average is $5.77.

N-able (NYSE:NABL) last posted its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $133.68 million for the quarter, compared to analysts’ expectations of $131.62 million. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. Research analysts anticipate that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On N-able

Several hedge funds and other institutional investors have recently made changes to their positions in NABL. Defiance ETFs LLC purchased a new stake in shares of N-able during the 4th quarter valued at about $8,954,000. Ameriprise Financial Inc. increased its position in shares of N-able by 516.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock valued at $10,325,000 after purchasing an additional 1,068,061 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of N-able during the 1st quarter valued at about $2,642,000. Bank of America Corp DE increased its position in shares of N-able by 271.8% during the 2nd quarter. Bank of America Corp DE now owns 679,119 shares of the company’s stock valued at $5,501,000 after purchasing an additional 496,461 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in N-able by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock worth $22,277,000 after acquiring an additional 474,028 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.