N-able (NYSE:NABL) Shares Down 10.5% – Here’s What Happened

by · The Cerbat Gem

N-able, Inc. (NYSE:NABL – Get Free Report) shares traded down 10.5% on Tuesday . The stock traded as low as $3.64 and last traded at $3.6350. Approximately 429,623 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,835,150 shares. The stock had previously closed at $4.06.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Scotiabank dropped their target price on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Needham & Company LLC dropped their price objective on shares of N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded N-able from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.08.

Get Our Latest Research Report on N-able

N-able Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $4.14 and a 200 day moving average of $4.26. The stock has a market capitalization of $699.91 million, a P/E ratio of -185.25 and a beta of 0.49.

N-able (NYSE:NABL – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $138.22 million for the quarter, compared to analyst estimates of $138.08 million. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. Research analysts anticipate that N-able, Inc. will post 0.23 EPS for the current fiscal 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 buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew 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 purchasing an additional 2,106 shares during the period. EverSource Wealth Advisors LLC grew its position in N-able by 1,970.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,789 shares of the company’s stock valued at $31,000 after acquiring an additional 3,606 shares during the period. PNC Financial Services Group Inc. raised its stake in N-able by 93.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock worth $30,000 after acquiring an additional 1,924 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of N-able in the 1st quarter valued at $48,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of N-able in the 2nd quarter worth about $90,000. Institutional investors own 96.35% of the company’s stock.

N-able Company Profile

(Get Free Report)

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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