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

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

Analyst Ratings Changes

A number of brokerages have recently commented on NABL. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of N-able in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. BMO Capital Markets cut their price target on shares of N-able from $9.50 to $5.50 and set a “market perform” rating on the stock in a report on Friday, February 20th. Finally, Needham & Company LLC cut their price target on shares of N-able from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, N-able currently has a consensus rating of “Hold” and an average target price of $7.55.

N-able Trading Down 8.2%

The firm has a market cap of $641.43 million, a price-to-earnings ratio of -68.22 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. The firm’s fifty day moving average is $4.62 and its 200-day moving average is $5.87.

N-able (NYSE:NABL) last released its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting 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%. N-able’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.08 earnings per share. Equities analysts anticipate that N-able, Inc. will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On N-able

Several hedge funds and other institutional investors have recently bought and sold shares of NABL. Hantz Financial Services Inc. lifted its holdings in 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 buying an additional 2,106 shares during the period. PNC Financial Services Group Inc. lifted its holdings in N-able by 93.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock valued at $30,000 after buying an additional 1,924 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in N-able by 1,970.5% in the second 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 during the period. Sequoia Financial Advisors LLC acquired a new position in N-able in the first quarter valued at $48,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in N-able in the third quarter valued at $82,000. Institutional investors and hedge funds 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.