N-able (NYSE:NABL) Stock Price Down 6.9% – Here’s Why

N-able, Inc. (NYSE:NABL) shares dropped 6.9% on Wednesday . The stock traded as low as $3.48 and last traded at $3.4550. Approximately 652,303 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,501,381 shares. The stock had previously closed at $3.71.

Wall Street Analyst Weigh In

NABL has been the subject of several research analyst reports. Needham & Company LLC decreased their price target on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a research note on Friday, May 8th. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of N-able in a research note on Tuesday, April 21st. Scotiabank lifted their price target on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, William Blair reaffirmed 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 issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.55.

N-able Trading Down 8.2%

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 firm’s 50-day moving average price is $4.62 and its 200 day moving average price is $5.87. The company has a market capitalization of $641.43 million, a P/E ratio of -68.22 and a beta of 0.64.

N-able (NYSE:NABL) last posted its earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $133.68 million during the quarter, compared to the consensus estimate of $131.62 million. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts predict that N-able, Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On N-able

Several hedge funds and other institutional investors have recently made changes to their positions in NABL. AQR Capital Management LLC increased its position in shares of N-able by 212.6% during the first quarter. AQR Capital Management LLC now owns 124,549 shares of the company’s stock worth $883,000 after acquiring an additional 84,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of N-able by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock worth $301,000 after acquiring an additional 1,825 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of N-able during the second quarter worth about $396,000. Norges Bank bought a new stake in shares of N-able during the second quarter worth about $327,000. Finally, Quantbot Technologies LP bought a new stake in shares of N-able during the second quarter worth about $207,000. 96.35% of the stock is owned by institutional investors.

N-able Company Profile

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.