N-able, Inc. (NYSE:NABL) Short Interest Update

N-able, Inc. (NYSE:NABL - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 3,660,000 shares, a decrease of 18.8% from the April 30th total of 4,510,000 shares. Approximately 5.5% of the company's shares are short sold. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is presently 2.8 days.

N-able Stock Up 0.7%

NABL stock traded up $0.06 during mid-day trading on Friday, hitting $8.15. 1,027,001 shares of the company were exchanged, compared to its average volume of 782,224. The company has a market capitalization of $1.54 billion, a PE ratio of 40.73 and a beta of 0.61. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able has a twelve month low of $6.07 and a twelve month high of $15.49. The firm has a fifty day simple moving average of $7.28 and a 200 day simple moving average of $8.59.

N-able (NYSE:NABL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $118.20 million during the quarter, compared to analyst estimates of $115.65 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, research analysts forecast that N-able will post 0.27 earnings per share for the current fiscal year.

N-able announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 5.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On N-able

Institutional investors have recently modified their holdings of the business. Sunriver Management LLC boosted its stake in N-able by 28.6% during the 1st quarter. Sunriver Management LLC now owns 4,580,663 shares of the company's stock valued at $32,477,000 after purchasing an additional 1,018,361 shares during the period. Trigran Investments Inc. acquired a new position in N-able during the 1st quarter valued at about $4,963,000. Invenomic Capital Management LP acquired a new position in N-able during the 1st quarter valued at about $4,192,000. Edgestream Partners L.P. boosted its stake in N-able by 89.7% during the 1st quarter. Edgestream Partners L.P. now owns 790,993 shares of the company's stock valued at $5,608,000 after purchasing an additional 373,989 shares during the period. Finally, Norges Bank acquired a new position in N-able during the 4th quarter valued at about $3,450,000. Institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

NABL has been the subject of several recent research reports. Royal Bank of Canada dropped their price objective on shares of N-able from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. BMO Capital Markets reaffirmed a "market perform" rating and set a $8.50 price target (down from $13.50) on shares of N-able in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of N-able in a report on Monday, May 5th. William Blair reaffirmed an "outperform" rating on shares of N-able in a report on Friday, March 14th. Finally, Scotiabank raised their price target on shares of N-able from $8.75 to $9.00 and gave the company a "sector perform" rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, N-able has an average rating of "Moderate Buy" and a consensus target price of $9.38.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.