N-able (NYSE:NABL) Trading Up 10.1% – Here’s Why

N-able, Inc. (NYSE:NABL) shares were up 10.1% during mid-day trading on Monday . The stock traded as high as $4.05 and last traded at $4.0750. Approximately 741,353 shares were traded during trading, a decline of 51% from the average daily volume of 1,524,370 shares. The stock had previously closed at $3.70.

Wall Street Analyst Weigh In

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

N-able Trading Up 10.4%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $4.54 and its two-hundred day simple moving average is $5.77. The company has a market capitalization of $769.53 million, a PE ratio of -81.70 and a beta of 0.54.

N-able (NYSE:NABL) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, meeting 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 company had revenue of $133.68 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts predict that N-able, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On N-able

Several institutional investors have recently modified their holdings of the business. Defiance ETFs LLC acquired a new position in shares of N-able during the fourth quarter valued at about $8,954,000. Ameriprise Financial Inc. boosted its position in shares of N-able by 516.8% in the second quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock valued at $10,325,000 after acquiring an additional 1,068,061 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of N-able in the first quarter valued at approximately $2,642,000. Bank of America Corp DE boosted its position in shares of N-able by 271.8% in the second quarter. Bank of America Corp DE now owns 679,119 shares of the company’s stock valued at $5,501,000 after acquiring an additional 496,461 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of N-able by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after acquiring an additional 474,028 shares during the period. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.