N-able (NYSE:NABL) Stock Price Down 6.9% – Here’s Why

N-able, Inc. (NYSE:NABL) traded down 6.9% on Wednesday . The company traded as low as $3.48 and last traded at $3.4550. 652,303 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,501,381 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

Several analysts recently issued reports on NABL shares. Wall Street Zen raised shares of N-able from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a report on Tuesday, April 21st. 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. BMO Capital Markets lowered their price target on N-able from $9.50 to $5.50 and set a “market perform” rating for the company in a report on Friday, February 20th. Finally, William Blair reiterated an “underperform” rating on shares of N-able in a research report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.55.

N-able Trading Up 6.2%

The firm’s fifty day moving average is $4.56 and its two-hundred day moving average is $5.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $690.04 million, a PE ratio of -73.10 and a beta of 0.64.

N-able (NYSE:NABL) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The firm had revenue of $133.68 million during the quarter, compared to analyst estimates of $131.62 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities analysts predict that N-able, Inc. will post 0.23 EPS for the current fiscal year.

Institutional Trading of N-able

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of N-able by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after purchasing an additional 474,028 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in N-able by 3.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,157,615 shares of the company’s stock worth $24,629,000 after acquiring an additional 100,539 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of N-able by 516.8% during the second quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock worth $10,325,000 after acquiring an additional 1,068,061 shares during the last quarter. Applied Fundamental Research LLC increased its stake in N-able by 18.3% in 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 during the period. Finally, Penserra Capital Management LLC boosted its stake in N-able by 5.2% in the 3rd quarter. Penserra Capital Management LLC now owns 1,212,419 shares of the company’s stock worth $9,456,000 after purchasing an additional 60,315 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Company Profile

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.