Stock Buyback Plan Announced by N-able (NYSE:NABL)

Key Points

• N-able authorized a $50 million stock buyback, allowing it to repurchase up to 6.7% of its outstanding shares through open-market purchases.
• Analyst sentiment remains cautious: the stock carries a consensus “Hold” rating, with a $5.08 average price target after several firms cut targets or downgraded the shares.
• NABL shares closed at $4.22, well below their 52-week high of $8.73. In its latest quarter, N-able met EPS expectations at $0.10 and reported 5.3% year-over-year revenue growth to $138.22 million.

N-able (NYSE:NABL - Get Free Report) announced that its board has initiated a stock buyback program on Friday, August 28th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NABL shares. Scotiabank dropped their target price on shares of N-able from $5.75 to $3.65 and set a "sector perform" rating on the stock in a research report on Tuesday, August 11th. Royal Bank Of Canada downgraded N-able from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $6.00 to $4.00 in a research report on Tuesday, August 11th. Zacks Research upgraded N-able from a "strong sell" rating to a "hold" rating in a report on Friday, August 14th. Weiss Ratings reissued a "sell (d)" rating on shares of N-able in a research report on Friday, July 17th. Finally, BMO Capital Markets reduced their price objective on 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.08.

N-able Stock Performance

Shares of NABL traded up $0.27 during trading hours on Friday, hitting $4.22. The company's stock had a trading volume of 3,459,731 shares, compared to its average volume of 2,531,738. The business has a 50 day simple moving average of $4.06 and a two-hundred day simple moving average of $4.33. N-able has a 52-week low of $2.92 and a 52-week high of $8.73. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $797.20 million, a price-to-earnings ratio of -211.00 and a beta of 0.50.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The company 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 company posted $0.11 EPS. N-able's revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that N-able will post 0.23 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source