N-able (NYSE:NABL) Shares Gap Down – Here’s What Happened

N-able, Inc. (NYSE:NABL) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.36, but opened at $4.18. N-able shares last traded at $4.2740, with a volume of 73,544 shares traded.

Analyst Ratings Changes

NABL has been the subject of a number of analyst reports. Scotiabank raised their price target on N-able from $5.25 to $5.75 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Zacks Research upgraded N-able from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Needham & Company LLC cut their price objective on N-able from $8.00 to $6.50 and set a “buy” rating for the company in a report on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of N-able in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of N-able from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, N-able has a consensus rating of “Hold” and an average target price of $7.55.

N-able Price Performance

The stock has a market capitalization of $807.21 million, a price-to-earnings ratio of -85.30 and a beta of 0.53. The company’s 50-day simple moving average is $3.81 and its 200-day simple moving average is $5.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.26.

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

Institutional Investors Weigh In On N-able

A number of large investors have recently added to or reduced their stakes in the stock. iSAM Funds UK Ltd lifted its position in shares of N-able by 13.5% during the 3rd quarter. iSAM Funds UK Ltd now owns 12,972 shares of the company’s stock valued at $101,000 after acquiring an additional 1,541 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in N-able by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,485 shares of the company’s stock valued at $301,000 after acquiring an additional 1,825 shares during the last quarter. PNC Financial Services Group Inc. grew its position in N-able by 93.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,976 shares of the company’s stock valued at $30,000 after acquiring an additional 1,924 shares during the last quarter. Lazard Asset Management LLC raised its stake in N-able by 0.7% during the second quarter. Lazard Asset Management LLC now owns 319,379 shares of the company’s stock worth $2,586,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in N-able by 179.8% during the fourth quarter. Hantz Financial Services Inc. now owns 3,277 shares of the company’s stock worth $25,000 after acquiring an additional 2,106 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.