N-able (NYSE:NABL) Sets New 1-Year Low – What’s Next?

N-able, Inc. (NYSE:NABL) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $9.97 and last traded at $10.01, with a volume of 34005 shares changing hands. The stock had previously closed at $10.02.

Analyst Upgrades and Downgrades

NABL has been the topic of a number of recent analyst reports. Scotiabank upgraded N-able to a “hold” rating in a report on Friday, December 6th. BMO Capital Markets lowered 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. Needham & Company LLC restated a “buy” rating and set a $16.50 price target on shares of N-able in a research report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of N-able in a report on Thursday, November 21st.

N-able Stock Up 0.2 %

The firm has a market capitalization of $1.82 billion, a PE ratio of 48.90 and a beta of 0.38. The stock has a 50-day simple moving average of $11.21 and a 200-day simple moving average of $12.73. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. N-able had a return on equity of 6.31% and a net margin of 8.08%. The company had revenue of $116.40 million during the quarter, compared to the consensus estimate of $114.75 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts forecast that N-able, Inc. will post 0.27 EPS for the current year.

Institutional Trading of N-able

Institutional investors have recently modified their holdings of the business. Scalar Gauge Management LLC purchased a new position in N-able in the 2nd quarter valued at approximately $10,650,000. Applied Fundamental Research LLC grew its position in shares of N-able by 438.6% in the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company’s stock valued at $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of N-able by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock valued at $47,427,000 after purchasing an additional 371,013 shares during the period. Sea Cliff Partners Management LP lifted its holdings in N-able by 11.8% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company’s stock worth $32,698,000 after purchasing an additional 226,532 shares in the last quarter. Finally, 272 Capital LP bought a new position in N-able in the 2nd quarter worth about $2,988,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.