N-able (NYSE:NABL) Stock Price Down 8% on Analyst Downgrade

Key Points

• N-able shares fell about 8% after Needham & Company cut its price target from $8.00 to $6.50, though the firm kept a buy rating.
• The stock has drawn mixed analyst views overall, with a consensus rating of Hold and a consensus target price of $7.55.
• In its latest quarterly results, N-able reported EPS of $0.09 in line with estimates and revenue of $133.68 million, up 13.1% year over year.

N-able, Inc. (NYSE:NABL - Get Free Report)'s stock price fell 8% on Monday after Needham & Company LLC lowered their price target on the stock from $8.00 to $6.50. Needham & Company LLC currently has a buy rating on the stock. N-able traded as low as $4.36 and last traded at $4.3140. 334,219 shares changed hands during trading, a decline of 77% from the average session volume of 1,439,551 shares. The stock had previously closed at $4.69.

NABL has been the topic of several other research reports. Weiss Ratings restated a "sell (d)" rating on shares of N-able in a research report on Tuesday, April 21st. William Blair restated an "underperform" rating on shares of N-able in a research report on Monday, March 23rd. B. Riley Financial initiated coverage on shares of N-able in a research report on Friday, January 23rd. They set a "buy" rating and a $10.00 price target for the company. Wall Street Zen lowered shares of N-able from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded shares of N-able from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.55.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of N-able by 179.8% in the fourth quarter. Hantz Financial Services Inc. now owns 3,277 shares of the company's stock worth $25,000 after buying an additional 2,106 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of N-able by 1,970.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,789 shares of the company's stock worth $31,000 after purchasing an additional 3,606 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of N-able by 93.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company's stock worth $30,000 after purchasing an additional 1,924 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in N-able in the first quarter worth $48,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in N-able in the third quarter worth $82,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

N-able Trading Down 8.8%

The company has a market capitalization of $805.32 million, a P/E ratio of -85.50 and a beta of 0.64. The stock's 50 day moving average is $4.88 and its 200-day moving average is $6.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26.

N-able (NYSE:NABL - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. N-able had a positive return on equity of 3.40% and a negative net margin of 1.99%.The company had revenue of $133.68 million for the quarter, compared to analysts' expectations of $131.62 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that N-able, Inc. will post 0.24 earnings per share for the current year.

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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