N-able (NYSE:NABL) Stock Price Down 10.5% – Should You Sell?

N-able, Inc. (NYSE:NABL) traded down 10.5% on Tuesday . The company traded as low as $3.64 and last traded at $3.6350. 429,623 shares were traded during trading, a decline of 77% from the average session volume of 1,835,150 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of N-able from $6.50 to $4.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $6.00 to $4.00 in a report on Tuesday, August 11th. BMO Capital Markets reduced their price objective on shares of N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research note on Tuesday, August 11th. Wall Street Zen cut N-able from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.08.

N-able Trading Down 0.1%

The firm has a market cap of $726.36 million, a PE ratio of -192.25 and a beta of 0.49. The company has a 50-day simple moving average of $4.14 and a 200 day simple moving average of $4.24. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.48.

N-able (NYSE:NABL) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $138.22 million during the quarter, compared to analyst estimates of $138.08 million. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%.N-able’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts forecast that N-able, Inc. will post 0.23 earnings per share for the current fiscal year.

N-able announced that its board has initiated a stock buyback program on Friday, August 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On N-able

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in N-able by 212.6% in the 1st quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock valued at $883,000 after purchasing an additional 84,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of N-able by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock valued at $301,000 after purchasing an additional 1,825 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of N-able during the 2nd quarter worth $396,000. Norges Bank acquired a new position in N-able in the 2nd quarter valued at about $327,000. Finally, Quantbot Technologies LP acquired a new position in N-able in the second quarter valued at approximately $207,000. 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.