N-able (NYSE:NABL) Reaches New 1-Year Low – Here’s What Happened

N-able, Inc. (NYSE:NABL)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $4.03 and last traded at $4.0870, with a volume of 1724889 shares trading hands. The stock had previously closed at $4.69.

Wall Street Analyst Weigh In

Several brokerages recently commented on NABL. William Blair restated an “underperform” rating on shares of N-able in a research report on Monday, March 23rd. Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Needham & Company LLC cut their target price on N-able from $8.00 to $6.50 and set a “buy” rating on the stock in a research report on Friday. B. Riley Financial began coverage on N-able in a research report on Friday, January 23rd. They set a “buy” rating and a $10.00 target price on the stock. Finally, BMO Capital Markets cut their target price on N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.55.

N-able Trading Down 12.9%

The firm has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $6.20. The firm has a market cap of $769.90 million, a P/E ratio of -81.74 and a beta of 0.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26.

N-able (NYSE:NABL) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $133.68 million for the quarter, compared to analyst estimates of $131.62 million. N-able had a positive return on equity of 3.40% and a negative net margin of 1.99%.The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, equities research analysts expect that N-able, Inc. will post 0.24 earnings per share for the current year.

Institutional Trading of N-able

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of N-able by 251.7% in the first quarter. PNC Financial Services Group Inc. now owns 13,983 shares of the company’s stock worth $65,000 after purchasing an additional 10,007 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of N-able by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock worth $22,277,000 after purchasing an additional 474,028 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of N-able by 12.6% in the first quarter. Principal Financial Group Inc. now owns 612,729 shares of the company’s stock worth $2,861,000 after purchasing an additional 68,742 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of N-able by 988.2% in the first quarter. Fifth Third Bancorp now owns 19,414 shares of the company’s stock worth $91,000 after purchasing an additional 17,630 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of N-able in the first quarter worth approximately $48,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.