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

Shares of N-able, Inc. (NYSE:NABL) reached a new 52-week low on Friday . The stock traded as low as $9.10 and last traded at $9.10, with a volume of 248723 shares traded. The stock had previously closed at $9.42.

Analyst Ratings Changes

NABL has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of N-able in a research note on Friday, November 22nd. BMO Capital Markets decreased their target price on N-able from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $15.00 price target on shares of N-able in a report on Thursday, November 21st. Finally, Scotiabank upgraded N-able to a “hold” rating in a research report on Friday, December 6th.

N-able Stock Performance

The company has a market capitalization of $1.69 billion, a P/E ratio of 45.50 and a beta of 0.41. The company’s 50 day moving average is $10.24 and its 200-day moving average is $12.18. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $116.40 million during the quarter, compared to analyst estimates of $114.75 million. N-able had a net margin of 8.08% and a return on equity of 6.31%. N-able’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Equities analysts anticipate that N-able, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On N-able

A number of large investors have recently added to or reduced their stakes in NABL. Rhumbline Advisers boosted its stake in shares of N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock worth $3,104,000 after acquiring an additional 1,668 shares during the last quarter. Victory Capital Management Inc. lifted its position in N-able by 19.9% during the second quarter. Victory Capital Management Inc. now owns 48,497 shares of the company’s stock valued at $739,000 after purchasing an additional 8,033 shares in the last quarter. Arizona State Retirement System lifted its position in N-able by 17.6% during the second quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock valued at $315,000 after purchasing an additional 3,094 shares in the last quarter. WINTON GROUP Ltd grew its holdings in N-able by 5.8% during the second quarter. WINTON GROUP Ltd now owns 72,036 shares of the company’s stock valued at $1,097,000 after purchasing an additional 3,980 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after buying an additional 371,013 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

About N-able

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.