N-able (NYSE:NABL) Stock Price Down 8% on Analyst Downgrade

by · The Cerbat Gem

N-able, Inc. (NYSE:NABL – Get Free Report) shares dropped 8% during trading on Monday after Needham & Company LLC lowered their price target on the stock from $8.00 to $6.50. Needham & Company LLC currently has a buy rating on the stock. N-able traded as low as $4.36 and last traded at $4.3140. Approximately 334,219 shares traded hands during trading, a decline of 77% from the average daily volume of 1,439,551 shares. The stock had previously closed at $4.69.

NABL has been the topic of several other research reports. B. Riley Financial initiated coverage on shares of N-able in a research note on Friday, January 23rd. They set a “buy” rating and a $10.00 target price on the stock. Scotiabank lowered their target price on shares of N-able from $8.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, February 20th. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research note on Tuesday, April 21st. BMO Capital Markets lowered their target price on shares of N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a research note on Friday, February 20th. Finally, William Blair reiterated an “underperform” rating on shares of N-able in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.55.

Get Our Latest Report on NABL

Hedge Funds Weigh In On N-able

A number of hedge funds have recently made changes to their positions in NABL. Topline Capital Management LLC purchased a new position in shares of N-able in the third quarter worth $3,545,000. SG Americas Securities LLC purchased a new position in shares of N-able in the third quarter worth $973,000. Applied Fundamental Research LLC increased its holdings in shares of N-able by 18.3% in the fourth quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company’s stock worth $9,371,000 after purchasing an additional 193,680 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of N-able by 15.5% in the third quarter. Conestoga Capital Advisors LLC now owns 208,845 shares of the company’s stock worth $1,629,000 after purchasing an additional 28,065 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of N-able by 136.9% in the third quarter. CWM LLC now owns 50,207 shares of the company’s stock worth $392,000 after purchasing an additional 29,016 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

N-able Stock Down 8.8%

The company has a fifty day moving average price of $4.88 and a 200-day moving average price of $6.25. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $805.32 million, a P/E ratio of -85.50 and a beta of 0.64.

N-able (NYSE:NABL – Get Free Report) last posted its earnings results 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 firm had revenue of $133.68 million during the quarter, compared to analyst estimates of $131.62 million. During the same period last year, the firm posted $0.08 earnings per share. N-able’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts forecast that N-able, Inc. will post 0.24 EPS for the current fiscal year.

About N-able

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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.

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