Stock Buyback Program Authorized by N-able (NYSE:NABL)

N-able (NYSE:NABL) announced that its Board of Directors has initiated a stock buyback program on Friday, August 28th, RTT News reports. The company plans to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

N-able Trading Up 6.8%

NYSE NABL traded up $0.27 during trading on Friday, hitting $4.22. 3,459,731 shares of the company’s stock traded hands, compared to its average volume of 2,531,738. The stock has a fifty day moving average of $4.06 and a two-hundred day moving average of $4.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.30 and a quick ratio of 1.30. N-able has a 12-month low of $2.92 and a 12-month high of $8.73. The firm has a market cap of $797.20 million, a P/E ratio of -211.00 and a beta of 0.50.

N-able (NYSE:NABL) last released its quarterly earnings data on Monday, August 10th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. N-able had a positive return on equity of 3.55% and a negative net margin of 0.88%.The firm had revenue of $138.22 million for the quarter, compared to the consensus estimate of $138.08 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that N-able will post 0.23 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Wall Street Zen downgraded N-able from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Needham & Company LLC cut their target price on N-able from $6.50 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Scotiabank reduced their price target 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. Finally, BMO Capital Markets decreased their price target on shares of N-able from $6.00 to $3.75 and set a “market perform” rating on the stock in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, N-able currently has a consensus rating of “Hold” and an average target price of $5.08.

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.