N-able (NYSE:NABL) Sets New 12-Month Low – What’s Next?

Shares of N-able, Inc. (NYSE:NABL) reached a new 52-week low during trading on Tuesday . The stock traded as low as $9.47 and last traded at $9.55, with a volume of 640618 shares traded. The stock had previously closed at $9.66.

Analyst Upgrades and Downgrades

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

N-able Stock Performance

The stock has a market cap of $1.79 billion, a PE ratio of 48.25 and a beta of 0.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.01 and a quick ratio of 3.01. The stock has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $12.60.

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

Institutional Inflows and Outflows

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

About N-able

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.