N-able (NYSE:NABL) Reaches New 12-Month Low Following Weak Earnings

N-able, Inc. (NYSE:NABL - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $7.38 and last traded at $7.52, with a volume of 303129 shares trading hands. The stock had previously closed at $10.03.

The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). N-able had a net margin of 8.08% and a return on equity of 6.31%.

Analysts Set New Price Targets

NABL has been the topic of several analyst reports. Royal Bank of Canada decreased their price target on shares of N-able from $15.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 21st. BMO Capital Markets cut their price objective on shares of N-able from $14.00 to $13.50 and set a "market perform" rating on the stock in a report on Friday, November 8th. Scotiabank cut their price objective on shares of N-able from $11.20 to $11.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. Finally, Needham & Company LLC cut their price target on shares of N-able from $16.50 to $10.00 and set a "buy" rating on the stock in a report on Monday.

Institutional Trading of N-able

Hedge funds have recently made changes to their positions in the company. Applied Fundamental Research LLC raised 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 during the period. Barclays PLC raised its stake in shares of N-able by 398.2% during the third quarter. Barclays PLC now owns 143,095 shares of the company's stock valued at $1,869,000 after purchasing an additional 114,374 shares during the period. Conestoga Capital Advisors LLC purchased a new stake in shares of N-able during the fourth quarter valued at approximately $1,006,000. Algert Global LLC raised its stake in shares of N-able by 73.6% during the third quarter. Algert Global LLC now owns 161,100 shares of the company's stock valued at $2,104,000 after purchasing an additional 68,320 shares during the period. Finally, Atom Investors LP raised its stake in shares of N-able by 59.2% during the third quarter. Atom Investors LP now owns 156,126 shares of the company's stock valued at $2,039,000 after purchasing an additional 58,087 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

N-able Price Performance

The company has a market cap of $1.34 billion, a PE ratio of 36.00 and a beta of 0.42. The business's 50 day moving average price is $9.62 and its 200-day moving average price is $11.05. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.43.

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.