N-able (NYSE:NABL) Sets New 12-Month Low – Here’s Why

N-able, Inc. (NYSE:NABL)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $9.11 and last traded at $9.14, with a volume of 86857 shares trading hands. The stock had previously closed at $9.39.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NABL. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of N-able in a research note on Thursday, November 21st. Scotiabank raised shares of 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 for the company in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price target on shares of N-able in a report on Friday, November 22nd.

N-able Stock Performance

The firm’s 50 day moving average is $10.85 and its 200 day moving average is $12.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a market cap of $1.73 billion, a P/E ratio of 46.50 and a beta of 0.38.

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

Institutional Trading of N-able

Several large investors have recently bought and sold shares of NABL. Rhumbline Advisers boosted its position in N-able by 0.8% in the second quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after buying an additional 1,668 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of N-able by 19.9% in the 2nd quarter. Victory Capital Management Inc. now owns 48,497 shares of the company’s stock valued at $739,000 after buying an additional 8,033 shares during the period. Arizona State Retirement System grew its holdings in N-able by 17.6% during the second quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock worth $315,000 after acquiring an additional 3,094 shares during the period. WINTON GROUP Ltd boosted its position in N-able by 5.8% in the 2nd quarter. WINTON GROUP Ltd now owns 72,036 shares of the company’s stock worth $1,097,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

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.