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

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NABL. Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. BMO Capital Markets reduced their target price on N-able from $9.50 to $5.50 and set a “market perform” rating for the company in a research note on Friday, February 20th. Scotiabank raised their target price on N-able from $5.25 to $5.75 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. William Blair restated an “underperform” rating on shares of N-able in a research note on Monday, March 23rd. Finally, Wall Street Zen upgraded N-able from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, N-able presently has a consensus rating of “Hold” and a consensus price target of $7.55.

N-able Price Performance

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 stock has a market capitalization of $784.60 million, a price-to-earnings ratio of -83.30 and a beta of 0.54. The stock has a 50-day moving average price of $4.52 and a 200 day moving average price of $5.74.

N-able (NYSE:NABL) last posted its earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. N-able had a positive return on equity of 3.40% and a negative net margin of 1.99%.The firm had revenue of $133.68 million for the quarter, compared to analysts’ expectations of $131.62 million. During the same period last year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that N-able, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On N-able

A number of institutional investors have recently modified their holdings of NABL. AQR Capital Management LLC grew its position in shares of N-able by 212.6% during the 1st quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock valued at $883,000 after acquiring an additional 84,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 valued at $301,000 after acquiring an additional 1,825 shares during the period. American Century Companies Inc. acquired a new stake in shares of N-able during the 2nd quarter valued at about $396,000. Norges Bank acquired a new stake in shares of N-able during the 2nd quarter valued at about $327,000. Finally, Quantbot Technologies LP acquired a new stake in N-able in the 2nd quarter worth about $207,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

About N-able

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.