N-able (NYSE:NABL) Reaches New 12-Month Low – Here’s What Happened
by Sarita Garza · The Markets DailyN-able, Inc. (NYSE:NABL – Get Free Report)’s share price reached a new 52-week low on Thursday . The company traded as low as $6.04 and last traded at $6.0650, with a volume of 582821 shares. The stock had previously closed at $6.40.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Zacks Research cut N-able from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a report on Thursday, January 22nd. B. Riley assumed coverage on shares of N-able in a research report on Friday, January 23rd. They set a “buy” rating and a $10.00 price target on the stock. Wall Street Zen downgraded shares of N-able from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Royal Bank Of Canada boosted their target price on shares of N-able from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, N-able presently has a consensus rating of “Hold” and an average target price of $9.45.
Check Out Our Latest Stock Analysis on NABL
N-able Stock Performance
The business has a 50 day moving average price of $7.18 and a two-hundred day moving average price of $7.65. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.13 billion, a P/E ratio of -202.67 and a beta of 0.61.
N-able (NYSE:NABL – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $131.71 million for the quarter, compared to analysts’ expectations of $127.48 million. N-able had a positive return on equity of 4.17% and a negative net margin of 1.31%.The business’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, sell-side analysts forecast that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.
Institutional Investors Weigh In On N-able
A number of institutional investors have recently added to or reduced their stakes in the stock. Sunriver Management LLC lifted its holdings in shares of N-able by 39.7% during the second quarter. Sunriver Management LLC now owns 6,398,641 shares of the company’s stock worth $51,829,000 after purchasing an additional 1,817,978 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of N-able in the second quarter valued at about $9,332,000. Ameriprise Financial Inc. boosted its stake in shares of N-able by 516.8% in the second quarter. Ameriprise Financial Inc. now owns 1,274,744 shares of the company’s stock worth $10,325,000 after acquiring an additional 1,068,061 shares during the last quarter. Bank of America Corp DE boosted its position in N-able by 271.8% during the second quarter. Bank of America Corp DE now owns 679,119 shares of the company’s stock worth $5,501,000 after acquiring an additional 496,461 shares during the last quarter. Finally, Topline Capital Management LLC purchased a new stake in N-able in the 3rd quarter valued at $3,545,000. 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.