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

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

Wall Street Analysts Forecast Growth

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

N-able Price Performance

The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $10.30 and a 200 day moving average price of $12.24. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 45.55 and a beta of 0.41.

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

Institutional Investors Weigh In On N-able

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of N-able by 2.4% in the third quarter. State Street Corp now owns 3,164,709 shares of the company’s stock worth $41,331,000 after acquiring an additional 75,003 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after purchasing an additional 371,013 shares during the last quarter. Sea Cliff Partners Management LP grew its holdings in shares of N-able by 11.8% during the second quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after buying an additional 226,532 shares in the last quarter. Geode Capital Management LLC raised its position in shares of N-able by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,597,651 shares of the company’s stock valued at $20,870,000 after buying an additional 15,145 shares during the last quarter. Finally, Scalar Gauge Management LLC raised its position in shares of N-able by 40.0% in the third quarter. Scalar Gauge Management LLC now owns 978,663 shares of the company’s stock valued at $12,781,000 after buying an additional 279,387 shares during the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

N-able Company Profile

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.