N-able (NYSE:NABL) Shares Gap Up After Earnings Beat

Key Points

• N-able shares gapped up from $8.01 to an opening price of $8.81 before last trading at $8.30, with a trading volume of 214,888 shares.
• Needham & Company reissued a "buy" rating with a target price of $10.00, while the average target price among analysts stands at $9.38.
• For the last quarter, N-able reported $0.08 earnings per share, surpassing estimates and showing a 4.0% revenue increase year-over-year.

N-able, Inc. (NYSE:NABL - Get Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.01, but opened at $8.81. N-able shares last traded at $8.30, with a volume of 214,888 shares trading hands.

The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. N-able had a net margin of 0.59% and a return on equity of 4.13%. The company had revenue of $131.25 million for the quarter, compared to the consensus estimate of $125.87 million. During the same quarter in the prior year, the company earned $0.14 EPS. N-able's quarterly revenue was up 9.9% on a year-over-year basis.

Analyst Ratings Changes

NABL has been the topic of several recent research reports. Scotiabank upped their price objective on N-able from $8.30 to $8.75 and gave the stock a "sector perform" rating in a research report on Friday. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of N-able in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded N-able from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP lifted its holdings in N-able by 2.1% in the 4th quarter. Occudo Quantitative Strategies LP now owns 51,869 shares of the company's stock valued at $484,000 after purchasing an additional 1,072 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in N-able by 67.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $30,000 after purchasing an additional 1,309 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in N-able by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,660 shares of the company's stock valued at $380,000 after purchasing an additional 1,541 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in N-able by 9.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,445 shares of the company's stock valued at $149,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Revisor Wealth Management LLC lifted its holdings in N-able by 20.8% in the 2nd quarter. Revisor Wealth Management LLC now owns 13,977 shares of the company's stock valued at $114,000 after purchasing an additional 2,402 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

N-able Stock Down 3.3%

The business has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $8.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.35 billion, a PE ratio of 361.93 and a beta of 0.62.

N-able Company Profile

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.