N-able (NYSE:NABL) Stock Price Down 6.1% – What’s Next?

N-able, Inc. (NYSE:NABL) shares dropped 6.1% during trading on Friday . The company traded as low as $3.47 and last traded at $3.4550. Approximately 1,686,146 shares were traded during trading, a decline of 6% from the average session volume of 1,785,063 shares. The stock had previously closed at $3.68.

Analyst Ratings Changes

Several research firms have recently weighed in on NABL. Scotiabank lowered their price objective on N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a research note on Tuesday. BMO Capital Markets cut their target price on N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research report on Tuesday. Royal Bank Of Canada lowered N-able from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $6.00 to $4.00 in a research note on Tuesday, August 11th. Wall Street Zen cut N-able from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $5.08.

N-able Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $653.63 million, a price-to-earnings ratio of -173.00 and a beta of 0.50. The stock’s 50-day simple moving average is $3.96 and its 200 day simple moving average is $4.49.

N-able (NYSE:NABL) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $138.22 million during the quarter, compared to analyst estimates of $138.08 million. N-able had a negative net margin of 0.88% and a positive return on equity of 3.54%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. Analysts expect that N-able, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On N-able

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in N-able by 212.6% in the 1st quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock valued at $883,000 after purchasing an additional 84,712 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in N-able by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after purchasing an additional 1,825 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of N-able during the second quarter worth $396,000. Norges Bank bought a new stake in shares of N-able during the second quarter worth $327,000. Finally, Quantbot Technologies LP acquired a new stake in shares of N-able in the second quarter valued at $207,000. 96.35% of the stock is currently owned by institutional investors.

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.