N-able (NYSE:NABL) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of N-able (NYSE:NABL) from a hold rating to a strong sell rating in a research report released on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reduced their target price on shares of N-able from $9.50 to $5.50 and set a “market perform” rating for the company in a research report on Friday, February 20th. Wall Street Zen cut shares of N-able from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Scotiabank decreased their target price on shares of N-able from $8.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, February 20th. B. Riley Financial initiated coverage on N-able in a research report on Friday, January 23rd. They issued a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC cut their price target on N-able from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.75.

N-able Price Performance

Shares of N-able stock opened at $4.39 on Wednesday. The stock has a market capitalization of $817.06 million, a P/E ratio of -48.72 and a beta of 0.60. The business has a 50 day simple moving average of $6.27 and a two-hundred day simple moving average of $7.26. N-able has a 12 month low of $4.21 and a 12 month high of $10.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.19 and a quick ratio of 1.27.

N-able (NYSE:NABL) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). N-able had a positive return on equity of 3.17% and a negative net margin of 3.33%.The firm had revenue of $130.27 million during the quarter, compared to analyst estimates of $127.07 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that N-able will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Alpine Global Management LLC acquired a new stake in N-able during the fourth quarter worth $182,000. Invesco Ltd. grew its holdings in shares of N-able by 11.7% during the 4th quarter. Invesco Ltd. now owns 371,226 shares of the company’s stock worth $2,777,000 after purchasing an additional 38,879 shares during the period. State of Tennessee Department of Treasury increased its position in shares of N-able by 103.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 34,381 shares of the company’s stock worth $257,000 after purchasing an additional 17,461 shares during the last quarter. XTX Topco Ltd purchased a new stake in N-able in the 4th quarter valued at about $117,000. Finally, Zacks Investment Management acquired a new position in N-able in the fourth quarter valued at about $519,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

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.