N-able (NYSE:NABL) Posts Earnings Results, Beats Estimates By $0.02 EPS

N-able (NYSE:NABL – Get Rating) released its earnings results on Thursday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02, MarketWatch Earnings reports. The company had revenue of $90.90 million during the quarter, compared to analysts’ expectations of $90.29 million. N-able’s quarterly revenue was up 9.3% compared to the same quarter last year. N-able updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

NYSE:NABL opened at $8.50 on Friday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. N-able has a 52-week low of $8.12 and a 52-week high of $16.00. The stock has a fifty day simple moving average of $9.79 and a 200-day simple moving average of $10.91.

Separately, Zacks Investment Research raised shares of N-able from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.30.

Several large investors have recently modified their holdings of NABL. Norges Bank acquired a new stake in shares of N-able during the 4th quarter valued at approximately $3,746,000. BlackRock Inc. grew its holdings in N-able by 13.2% in the 1st quarter. BlackRock Inc. now owns 2,656,901 shares of the company’s stock valued at $24,177,000 after buying an additional 310,465 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of N-able by 398.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 261,582 shares of the company’s stock worth $2,904,000 after buying an additional 209,093 shares during the period. Wells Fargo & Company MN raised its position in N-able by 300.4% in the 4th quarter. Wells Fargo & Company MN now owns 263,479 shares of the company’s stock valued at $2,925,000 after purchasing an additional 197,675 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of N-able during the third quarter worth $1,473,000.

About N-able (Get Rating)

N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

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