N-able (NYSE:NABL) Stock Price Down 9.5% – Here’s What Happened

N-able, Inc. (NYSE:NABL)’s share price was down 9.5% during mid-day trading on Wednesday . The stock traded as low as $3.80 and last traded at $3.7750. Approximately 661,497 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,552,412 shares. The stock had previously closed at $4.17.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NABL shares. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. BMO Capital Markets cut their target price on shares of N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a report on Friday, February 20th. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. William Blair reiterated an “underperform” rating on shares of N-able in a report on Monday, March 23rd. Finally, Scotiabank lifted their price target on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a report on Friday, May 8th. Three equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.55.

N-able Trading Up 1.2%

The stock has a market cap of $722.44 million, a P/E ratio of -76.70 and a beta of 0.54. 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 stock’s fifty day moving average price is $4.46 and its 200 day moving average price is $5.66.

N-able (NYSE:NABL) last announced its earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm 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 company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. Equities research analysts expect that N-able, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On N-able

Hedge funds have recently bought and sold shares of the business. iSAM Funds UK Ltd grew its stake in N-able by 13.5% during the third quarter. iSAM Funds UK Ltd now owns 12,972 shares of the company’s stock valued at $101,000 after acquiring an additional 1,541 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in N-able by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after purchasing an additional 1,825 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in N-able by 93.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock worth $30,000 after purchasing an additional 1,924 shares in the last quarter. Lazard Asset Management LLC lifted its stake in N-able by 0.7% in the 2nd quarter. Lazard Asset Management LLC now owns 319,379 shares of the company’s stock worth $2,586,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in N-able by 179.8% in the 4th quarter. Hantz Financial Services Inc. now owns 3,277 shares of the company’s stock worth $25,000 after purchasing an additional 2,106 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

About N-able

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.