N-able (NYSE:NABL) Shares Down 6.1% - Here's Why

Key Points

• N-able shares fell 6.1% to about $3.46, trading below both their 50-day ($3.97) and 200-day ($4.50) moving averages.
• Analysts broadly turned more cautious: RBC, BMO Capital Markets and Scotiabank cut their price targets, while the consensus rating is “Reduce” with a $5.08 target.
• N-able met quarterly EPS estimates at $0.10 and slightly exceeded revenue expectations with $138.22 million, though net margin remained negative at 0.88% despite 5.3% year-over-year revenue growth.

N-able, Inc. (NYSE:NABL - Get Free Report) shares traded down 6.1% during trading on Friday . The stock traded as low as $3.47 and last traded at $3.4550. Approximately 1,686,146 shares were traded during trading, a decline of 6% from the average daily volume of 1,785,063 shares. The stock had previously closed at $3.68.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada cut N-able from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $6.00 to $4.00 in a report on Tuesday. BMO Capital Markets decreased their price target on N-able from $6.00 to $3.75 and set a "market perform" rating on the stock in a research note on Tuesday. Scotiabank lowered 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 research report on Tuesday. Weiss Ratings restated a "sell (d)" rating on shares of N-able in a report on Friday, July 17th. Finally, Needham & Company LLC dropped their price target on shares of N-able from $6.50 to $4.00 and set a "buy" rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $5.08.

N-able Stock Down 6.0%

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average price of $3.97 and a 200 day moving average price of $4.50. The firm has a market capitalization of $653.63 million, a price-to-earnings ratio of -172.25 and a beta of 0.50.

N-able (NYSE:NABL - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $138.22 million for the quarter, compared to the consensus estimate of $138.08 million. N-able had a positive return on equity of 3.54% and a negative net margin of 0.88%.N-able's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, sell-side analysts expect that N-able, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On N-able

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lexington Partners L.P. bought a new stake in shares of N-able in the 2nd quarter valued at approximately $4,550,312,000. Bank of America Corp DE raised its holdings in shares of N-able by 17.3% in the 1st quarter. Bank of America Corp DE now owns 713,869 shares of the company's stock worth $3,334,000 after purchasing an additional 105,518 shares in the last quarter. Quantinno Capital Management LP raised its holdings in 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 raised its stake in 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 purchasing an additional 357,500 shares during the period. Finally, Teton Advisors LLC purchased a new stake in shares of N-able in the first quarter worth approximately $117,000. 96.35% of the stock is owned by institutional investors and hedge funds.

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.

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