N-able, Inc. (NYSE:NABL – Get Free Report) was down 9.5% during mid-day trading on Wednesday . The stock traded as low as $3.80 and last traded at $3.7750. Approximately 661,497 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,552,412 shares. The stock had previously closed at $4.17.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on NABL shares. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of N-able from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Needham & Company LLC decreased their price target on shares of N-able from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Friday, May 8th. Scotiabank upped their price target on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of N-able in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.55.
Check Out Our Latest Stock Analysis on N-able
N-able Price Performance
N-able (NYSE:NABL – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The business had revenue of $133.68 million during the quarter, compared to the consensus estimate of $131.62 million. During the same quarter last year, the firm earned $0.08 earnings per share. N-able’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts anticipate that N-able, Inc. will post 0.22 earnings per share for the current year.
Institutional Investors Weigh In On N-able
A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings 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 worth $22,277,000 after purchasing an additional 474,028 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in N-able by 3.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,157,615 shares of the company’s stock worth $24,629,000 after purchasing an additional 100,539 shares during the period. Ameriprise Financial Inc. grew its holdings in 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 purchasing an additional 1,068,061 shares during the period. Applied Fundamental Research LLC grew its holdings in N-able by 18.3% in the fourth quarter. Applied Fundamental Research LLC now owns 1,252,829 shares of the company’s stock worth $9,371,000 after purchasing an additional 193,680 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in N-able by 5.2% in the third quarter. Penserra Capital Management LLC now owns 1,212,419 shares of the company’s stock worth $9,456,000 after purchasing an additional 60,315 shares during the period. 96.35% of the stock is currently owned by institutional investors and hedge funds.
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.
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