N-able (NYSE:NABL) Shares Down 6.1% – Here’s What Happened

N-able, Inc. (NYSE:NABL)’s stock price fell 6.1% during mid-day trading on Friday . The company traded as low as $3.47 and last traded at $3.4550. Approximately 1,686,146 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,785,063 shares. The stock had previously closed at $3.68.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Scotiabank decreased their price objective on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a report on Tuesday. BMO Capital Markets decreased their price objective on N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a report on Tuesday. Wall Street Zen raised shares of N-able from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $6.00 to $4.00 in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, N-able currently has a consensus rating of “Reduce” and an average price target of $5.08.

N-able Trading Down 6.0%

The business’s fifty day simple moving average is $3.97 and its 200 day simple moving average is $4.50. 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 has a market cap of $653.63 million, a P/E ratio of -172.25 and a beta of 0.50.

N-able (NYSE:NABL) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, meeting 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 analysts’ expectations of $138.08 million. During the same period in the prior year, the firm earned $0.11 earnings per share. N-able’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that N-able, Inc. will post 0.22 EPS for the current year.

Institutional Investors Weigh In On N-able

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised 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 acquiring an additional 357,500 shares during the last quarter. Applied Fundamental Research LLC grew its stake in shares of N-able by 18.3% during the fourth quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company’s stock worth $9,371,000 after purchasing an additional 193,680 shares during the period. Dimensional Fund Advisors LP increased its holdings in N-able by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after purchasing an additional 474,028 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in N-able in the first quarter valued at about $2,642,000. Finally, UBS Group AG lifted its stake in N-able by 66.0% in the fourth quarter. UBS Group AG now owns 413,492 shares of the company’s stock valued at $3,093,000 after buying an additional 164,340 shares during the period. 96.35% of the stock is owned by institutional investors and hedge funds.

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.