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

N-able, Inc. (NYSE:NABL) shares reached a new 52-week low on Friday . The stock traded as low as $9.10 and last traded at $9.10, with a volume of 248723 shares trading hands. The stock had previously closed at $9.42.

Analysts Set New Price Targets

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

N-able Trading Down 3.4 %

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 fifty day moving average of $10.24 and a 200-day moving average of $12.18. The company has a market cap of $1.69 billion, a PE ratio of 45.50 and a beta of 0.41.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NABL. Rhumbline Advisers raised its position in N-able by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 203,826 shares of the company’s stock valued at $3,104,000 after purchasing an additional 1,668 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of N-able by 19.9% during the 2nd quarter. Victory Capital Management Inc. now owns 48,497 shares of the company’s stock worth $739,000 after buying an additional 8,033 shares in the last quarter. Arizona State Retirement System increased its stake in shares of N-able by 17.6% during the second quarter. Arizona State Retirement System now owns 20,689 shares of the company’s stock valued at $315,000 after buying an additional 3,094 shares during the period. WINTON GROUP Ltd raised its holdings in shares of N-able by 5.8% in the second quarter. WINTON GROUP Ltd now owns 72,036 shares of the company’s stock valued at $1,097,000 after acquiring an additional 3,980 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in N-able by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,043 shares of the company’s stock worth $47,427,000 after acquiring an additional 371,013 shares during the period. Institutional investors 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.