N-able (NYSE:NABL) Stock Price 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)'s share price was down 7.9% on Friday . The company traded as low as $7.57 and last traded at $7.56. Approximately 569,433 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,082,856 shares. The stock had previously closed at $8.20.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NABL shares. Scotiabank reaffirmed a "sector perform" rating and issued a $8.75 target price (up previously from $8.30) on shares of N-able in a research report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of N-able in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, N-able has a consensus rating of "Moderate Buy" and an average target price of $9.31.

N-able Stock Down 8.6%

The firm has a market cap of $1.42 billion, a P/E ratio of 83.28 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.20. The firm's fifty day moving average is $8.02 and its 200 day moving average is $8.05.

N-able (NYSE:NABL - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $118.20 million during the quarter, compared to the consensus estimate of $115.65 million. N-able had a net margin of 3.47% and a return on equity of 5.20%. N-able's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, equities research analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of N-able

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC bought a new stake in shares of N-able during the 2nd quarter valued at approximately $9,332,000. Sunriver Management LLC grew its holdings in shares of 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 last quarter. Trigran Investments Inc. bought a new stake in shares of N-able during the 1st quarter valued at approximately $4,963,000. Invenomic Capital Management LP bought a new stake in N-able during the 1st quarter worth approximately $4,192,000. Finally, Edgestream Partners L.P. grew its holdings in N-able by 89.7% during the 1st quarter. Edgestream Partners L.P. now owns 790,993 shares of the company's stock worth $5,608,000 after acquiring an additional 373,989 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company's stock.

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.

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