N-able (NYSE:NABL) Reaches New 1-Year Low - What's Next?

N-able, Inc. (NYSE:NABL - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.97 and last traded at $10.01, with a volume of 34005 shares. The stock had previously closed at $10.02.

Wall Street Analyst Weigh In

NABL has been the subject of a number of recent analyst reports. Scotiabank raised N-able to a "hold" rating in a research report on Friday, December 6th. BMO Capital Markets reduced their target price on N-able from $14.00 to $13.50 and set a "market perform" rating on the stock in a research note on Friday, November 8th. Needham & Company LLC restated a "buy" rating and set a $16.50 target price on shares of N-able in a report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $15.00 price target on shares of N-able in a report on Thursday, November 21st.

N-able Stock Down 2.6 %

The company's fifty day simple moving average is $11.32 and its 200 day simple moving average is $12.77. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1.81 billion, a PE ratio of 48.80 and a beta of 0.38.

N-able (NYSE:NABL - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.03. The company had revenue of $116.40 million during the quarter, compared to analysts' expectations of $114.75 million. N-able had a return on equity of 6.31% and a net margin of 8.08%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Analysts anticipate that N-able, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of N-able

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Scalar Gauge Management LLC purchased a new position in N-able during the 2nd quarter valued at about $10,650,000. Applied Fundamental Research LLC increased its stake in shares of N-able by 438.6% during the third quarter. Applied Fundamental Research LLC now owns 815,634 shares of the company's stock valued at $10,652,000 after purchasing an additional 664,198 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of N-able by 13.5% during the second 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 during the last quarter. Sea Cliff Partners Management LP boosted its position in shares of N-able by 11.8% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,146,965 shares of the company's stock worth $32,698,000 after purchasing an additional 226,532 shares in the last quarter. Finally, 272 Capital LP purchased a new stake in shares of N-able in the 2nd quarter worth approximately $2,988,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

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.