N-able (NYSE:NABL) Stock Price Up 8.3% – Here’s Why

N-able, Inc. (NYSE:NABL)’s stock price traded up 8.3% during mid-day trading on Monday . The stock traded as high as $4.42 and last traded at $4.42. 170,075 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,712,420 shares. The stock had previously closed at $4.08.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen raised N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Needham & Company LLC cut their price target on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a report on Friday, May 8th. Scotiabank raised their price objective 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. Zacks Research downgraded shares of N-able from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, N-able presently has a consensus rating of “Hold” and an average price target of $7.55.

N-able Trading Up 8.5%

The firm has a market cap of $833.58 million, a PE ratio of -88.50 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50-day moving average price of $3.79 and a two-hundred day moving average price of $4.75.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.09 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 negative net margin of 1.99% and a positive return on equity of 3.40%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. Analysts forecast that N-able, Inc. will post 0.22 EPS for the current year.

Institutional Trading of N-able

Several institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of N-able by 179.8% in the fourth 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 last quarter. PNC Financial Services Group Inc. raised its position in shares of N-able by 93.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock worth $30,000 after purchasing an additional 1,924 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in N-able by 1,970.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,789 shares of the company’s stock valued at $31,000 after buying an additional 3,606 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in N-able in the 1st quarter valued at approximately $48,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in N-able during the 4th quarter valued at $85,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.