N-able (NYSE:NABL) Shares Up 8.3% – Here’s What Happened

N-able, Inc. (NYSE:NABL)’s share price 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.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Needham & Company LLC lowered their price target on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a report on Friday, May 8th. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research cut shares of N-able from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Finally, Scotiabank lifted their target price on N-able from $5.25 to $5.75 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, N-able presently has an average rating of “Hold” and a consensus target price of $7.55.

N-able Trading Down 0.6%

The firm has a market cap of $818.51 million, a P/E ratio of -86.90 and a beta of 0.53. The business’s 50 day moving average is $3.82 and its 200-day moving average is $4.71. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $133.68 million for the quarter, compared to the consensus estimate of $131.62 million. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. As a group, analysts forecast that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On N-able

A number of hedge funds have recently bought and sold shares of NABL. iSAM Funds UK Ltd increased its holdings in N-able by 13.5% in the third quarter. iSAM Funds UK Ltd now owns 12,972 shares of the company’s stock valued at $101,000 after buying an additional 1,541 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in N-able by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after buying an additional 1,825 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in N-able by 93.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock worth $30,000 after buying an additional 1,924 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of N-able by 0.7% in the 2nd quarter. Lazard Asset Management LLC now owns 319,379 shares of the company’s stock worth $2,586,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of N-able by 179.8% in the 4th quarter. Hantz Financial Services Inc. now owns 3,277 shares of the company’s stock worth $25,000 after acquiring an additional 2,106 shares in the last quarter. 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.