N-able (NYSE:NABL) Shares Down 7.9% - What's Next?

Key Points

• N-able's stock price fell by 7.9%, reaching as low as $7.56 on Friday, alongside a significant 47% decline in trading volume compared to its average.
• Analysts have set new price targets for N-able, with Scotiabank maintaining a "sector perform" rating at $8.75 and Needham & Company issuing a "buy" rating with a target of $10.00.
• The company reported an earnings per share (EPS) of $0.08, beating the consensus estimate and showcasing a 4.0% increase in revenue year-over-year.

N-able, Inc. (NYSE:NABL - Get Free Report) dropped 7.9% during trading on Friday . The company traded as low as $7.57 and last traded at $7.56. Approximately 569,433 shares were traded during trading, a decline of 47% from the average daily volume of 1,082,856 shares. The stock had previously closed at $8.20.

Analyst Ratings Changes

NABL has been the topic of a number of research reports. Scotiabank raised their target price on shares of N-able from $8.30 to $8.75 and gave the company a "sector perform" rating in a research report on Friday. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of N-able in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of 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 issued a buy rating to the company's stock. According to MarketBeat, N-able currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.31.

N-able Stock Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.24. The firm's 50 day simple moving average is $8.00 and its 200 day simple moving average is $7.99. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 384.04 and a beta of 0.62.

N-able (NYSE:NABL - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $131.25 million during the quarter, compared to analysts' expectations of $125.87 million. During the same period in the previous year, the business posted $0.14 EPS. The business's revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On N-able

A number of large investors have recently added to or reduced their stakes in NABL. Penserra Capital Management LLC acquired a new stake in shares of N-able in the second quarter valued at about $9,332,000. Sunriver Management LLC raised its position in shares of N-able by 28.6% in the first quarter. Sunriver Management LLC now owns 4,580,663 shares of the company's stock valued at $32,477,000 after buying an additional 1,018,361 shares during the last quarter. Trigran Investments Inc. acquired a new stake in shares of N-able in the first quarter valued at about $4,963,000. Invenomic Capital Management LP acquired a new stake in shares of N-able in the first quarter valued at about $4,192,000. Finally, Edgestream Partners L.P. grew its holdings in shares of N-able by 89.7% in the first 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. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.