N-able (NYSE:NABL) Trading 6.9% Higher – What’s Next?

N-able, Inc. (NYSE:NABL) shares shot up 6.9% during mid-day trading on Thursday . The stock traded as high as $3.48 and last traded at $3.4650. Approximately 319,702 shares changed hands during trading, a decline of 82% from the average daily volume of 1,757,957 shares. The stock had previously closed at $3.24.

Analysts Set New Price Targets

A number of research firms recently commented on NABL. Needham & Company LLC lowered their target price on shares of N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank Of Canada downgraded shares of N-able from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $6.00 to $4.00 in a research note on Tuesday. Wall Street Zen raised shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. BMO Capital Markets reduced their target price on N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Two research 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. According to data from MarketBeat, N-able has an average rating of “Reduce” and an average target price of $5.08.

N-able Stock Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $645.13 million, a PE ratio of -170.75 and a beta of 0.50. The firm’s 50 day moving average price is $3.97 and its 200-day moving average price is $4.52.

N-able (NYSE:NABL) last released its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $138.22 million during the quarter, compared to analysts’ expectations of $138.08 million. N-able had a positive return on equity of 3.54% and a negative net margin of 0.88%.N-able’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. On average, research analysts expect that N-able, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On N-able

Large investors have recently added to or reduced their stakes in the stock. iSAM Funds UK Ltd lifted its position in shares of N-able by 13.5% during the third quarter. iSAM Funds UK Ltd now owns 12,972 shares of the company’s stock worth $101,000 after purchasing an additional 1,541 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 1,825 shares during the period. PNC Financial Services Group Inc. increased 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 purchasing an additional 1,924 shares during the period. Lazard Asset Management LLC raised its position in N-able by 0.7% in the 2nd quarter. Lazard Asset Management LLC now owns 319,379 shares of the company’s stock valued at $2,586,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake 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 valued at $25,000 after buying an additional 2,106 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.

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.