N-able (NYSE:NABL) Stock Jumps 5.8% – Still a Buy?

Shares of N-able, Inc. (NYSE:NABL) rose 5.8% on Thursday. The company traded as high as $4.37 and last traded at $4.3360. Approximately 247,137 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,986,060 shares. The stock had previously closed at $4.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NABL shares. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research note on Friday, July 17th. Royal Bank Of Canada lowered shares of N-able from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $6.00 to $4.00 in a research note on Tuesday, August 11th. Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Scotiabank cut their price target on N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Finally, Needham & Company LLC lowered their price objective on N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.08.

N-able Trading Up 3.8%

The business’s 50-day simple moving average is $4.01 and its two-hundred day simple moving average is $4.17. The firm has a market capitalization of $803.81 million, a price-to-earnings ratio of -212.75 and a beta of 0.49. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48.

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 analysts’ consensus estimates of $0.10. The firm had revenue of $138.22 million during the quarter, compared to analysts’ expectations of $138.08 million. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.11 EPS. Equities analysts forecast that N-able, Inc. will post 0.23 earnings per share for the current year.

N-able announced that its board has authorized a share buyback plan on Friday, August 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NABL. AXQ Capital LP acquired a new stake in shares of N-able during the 2nd quarter worth about $190,000. Lexington Partners L.P. acquired a new stake in N-able during the second quarter worth approximately $4,550,312. Bank of America Corp DE lifted its position in shares of N-able by 17.3% during the 1st quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock worth $3,334,000 after buying an additional 105,518 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of N-able by 522.0% in the 1st quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock valued at $663,000 after buying an additional 119,155 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of N-able by 68.4% in the 1st quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock valued at $4,112,000 after buying an additional 357,500 shares in the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

N-able Company Profile

N-able, Inc is a software company that provides cloud-based technology solutions for managed service providers (MSPs). Its platform helps MSPs monitor, manage, secure and support the information technology environments of small and medium-sized businesses, enabling providers to deliver services remotely and at scale.

The company’s offerings include remote monitoring and management, endpoint management, data protection and backup, cybersecurity, email security, password management, and professional services automation tools.