N-able (NYSE:NABL) Stock Price Up 6.9% – Still a Buy?

Shares of N-able, Inc. (NYSE:NABL) rose 6.9% during mid-day trading on Thursday . The company traded as high as $3.48 and last traded at $3.4650. Approximately 319,702 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,757,957 shares. The stock had previously closed at $3.24.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NABL shares. Zacks Research downgraded N-able from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $6.00 to $4.00 in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a report on Friday, July 17th. Wall Street Zen lowered N-able from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Needham & Company LLC cut their price target on shares of N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $5.08.

N-able Stock Down 6.0%

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.26. The business’s fifty day simple moving average is $3.96 and its two-hundred day simple moving average is $4.49. The company has a market cap of $653.63 million, a PE ratio of -173.00 and a beta of 0.50.

N-able (NYSE:NABL) last posted its earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.54%. The business had revenue of $138.22 million for the quarter, compared to analyst estimates of $138.08 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts predict that N-able, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On N-able

A number of large investors have recently bought and sold shares of NABL. Lexington Partners L.P. acquired a new stake in N-able in the second quarter valued at approximately $4,550,312,000. Bank of America Corp DE raised its stake in shares of N-able by 17.3% during the 1st quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock worth $3,334,000 after buying an additional 105,518 shares during the period. Quantinno Capital Management LP raised its stake in shares of N-able by 522.0% during the 1st quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock worth $663,000 after buying an additional 119,155 shares during the period. Renaissance Technologies LLC lifted its position in shares of N-able by 68.4% during the 1st quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock valued at $4,112,000 after buying an additional 357,500 shares in the last quarter. Finally, Teton Advisors LLC purchased a new position in shares of N-able during the 1st quarter valued at approximately $117,000. Institutional investors and hedge funds 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.