N-able (NYSE:NABL) Trading 8.3% Higher - Here's Why

Key Points

• N-able shares rose 8.3% to $4.42, although trading volume was about 90% below the average session volume.
• Analyst sentiment remains mixed: the stock has an average “Hold” rating, with three Buys, two Holds, and three Sells, alongside an average price target of $7.55.
• N-able’s latest quarterly results met earnings expectations and exceeded revenue forecasts, with revenue rising 13.1% year over year to $133.68 million; institutional investors own 96.35% of the shares.

N-able, Inc. (NYSE:NABL - Get Free Report) shares shot up 8.3% during trading on Monday . The stock traded as high as $4.42 and last traded at $4.42. 170,075 shares were traded during trading, a decline of 90% from the average session volume of 1,712,420 shares. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NABL. Zacks Research cut N-able from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 16th. Needham & Company LLC cut their target price on shares of N-able from $8.00 to $6.50 and set a "buy" rating on the stock in a report on Friday, May 8th. Weiss Ratings reiterated a "sell (d)" rating on shares of N-able in a research report on Friday, July 17th. Wall Street Zen upgraded shares of N-able from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Finally, Scotiabank increased their price target on shares of N-able from $5.25 to $5.75 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.55.

N-able Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $3.79 and a 200-day moving average price of $4.75. The firm has a market cap of $833.58 million, a price-to-earnings ratio of -88.50 and a beta of 0.53.

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 firm had revenue of $133.68 million during the quarter, compared to the consensus estimate of $131.62 million. During the same period last year, the company earned $0.08 earnings per share. The company's revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts expect that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in N-able by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company's stock worth $22,277,000 after purchasing an additional 474,028 shares in the last quarter. Ameriprise Financial Inc. increased its position in N-able by 516.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company's stock worth $10,325,000 after purchasing an additional 1,068,061 shares during the period. Applied Fundamental Research LLC raised its stake in shares of N-able by 18.3% during the 4th quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company's stock worth $9,371,000 after buying an additional 193,680 shares in the last quarter. Defiance ETFs LLC purchased a new position in shares of N-able during the 4th quarter worth approximately $8,954,000. Finally, CenterBook Partners LP lifted its holdings in shares of N-able by 32.6% in the 4th quarter. CenterBook Partners LP now owns 1,084,990 shares of the company's stock valued at $8,116,000 after buying an additional 266,806 shares during the period. 96.35% of the stock is currently 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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