Shares of N-able, Inc. (NYSE:NABL – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $3.95, but opened at $4.25. N-able shares last traded at $4.47, with a volume of 615,061 shares.
Analysts Set New Price Targets
Several analysts recently weighed in on NABL shares. Wall Street Zen downgraded shares of N-able from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Royal Bank Of Canada cut N-able from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $6.00 to $4.00 in a research note on Tuesday, August 11th. Needham & Company LLC decreased their price target on N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. BMO Capital Markets lowered their price target on N-able from $6.00 to $3.75 and set a “market perform” rating for the company in a research report on Tuesday, August 11th. Finally, Scotiabank dropped their price objective on N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.08.
Get Our Latest Report on N-able
N-able Price Performance
N-able (NYSE:NABL – Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm had revenue of $138.22 million for the quarter, compared to analysts’ expectations of $138.08 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that N-able, Inc. will post 0.23 EPS for the current year.
Institutional Investors Weigh In On N-able
A number of hedge funds and other institutional investors have recently modified their holdings of NABL. Renaissance Technologies LLC grew its stake in shares of N-able by 68.4% during the first quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock worth $4,112,000 after purchasing an additional 357,500 shares in the last quarter. Lexington Partners L.P. acquired a new stake in N-able in the second quarter valued at $4,550,312,000. Dimensional Fund Advisors LP raised its stake in N-able by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,770,126 shares of the company’s stock valued at $22,277,000 after buying an additional 474,028 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in N-able during the 1st quarter worth about $2,642,000. Finally, UBS Group AG boosted its position in shares of N-able by 66.0% during the 4th quarter. UBS Group AG now owns 413,492 shares of the company’s stock worth $3,093,000 after acquiring an additional 164,340 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.
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.
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