N-able (NYSE:NABL) Stock Price Up 5% – Time to Buy?

N-able, Inc. (NYSE:NABL) shares shot up 5% during mid-day trading on Tuesday . The company traded as high as $4.44 and last traded at $4.4330. Approximately 193,411 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,694,173 shares. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NABL. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a report on Tuesday, April 21st. Scotiabank increased their price target on shares of N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a research report on Friday, May 8th. William Blair reissued an “underperform” rating on shares of N-able in a research note on Monday, March 23rd. Zacks Research upgraded shares of N-able from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Needham & Company LLC reduced their target price on shares of N-able from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, N-able has a consensus rating of “Hold” and a consensus target price of $7.55.

N-able Stock Performance

The stock has a market cap of $846.77 million, a PE ratio of -89.92 and a beta of 0.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day moving average price of $3.85 and a two-hundred day moving average price of $5.05.

N-able (NYSE:NABL) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $133.68 million during the quarter, compared to analyst estimates of $131.62 million. N-able had a negative net margin of 1.99% and a positive return on equity of 3.40%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS. As a group, equities research analysts forecast that N-able, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of N-able

A number of institutional investors have recently modified their holdings of NABL. Bank of America Corp DE grew its stake in shares of N-able by 17.3% in the first quarter. Bank of America Corp DE now owns 713,869 shares of the company’s stock worth $3,334,000 after purchasing an additional 105,518 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in N-able by 522.0% in the 1st quarter. Quantinno Capital Management LP now owns 141,980 shares of the company’s stock worth $663,000 after buying an additional 119,155 shares during the period. Renaissance Technologies LLC grew its position in shares of N-able by 68.4% in the 1st quarter. Renaissance Technologies LLC now owns 880,500 shares of the company’s stock worth $4,112,000 after buying an additional 357,500 shares during the last quarter. Teton Advisors LLC bought a new stake in shares of N-able in the 1st quarter worth approximately $117,000. Finally, Gabelli Funds LLC increased its stake in shares of N-able by 33.2% during the first quarter. Gabelli Funds LLC now owns 200,657 shares of the company’s stock valued at $937,000 after buying an additional 50,048 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

N-able Company Profile

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.