N-able (NYSE:NABL) Reaches New 1-Year Low at $8.58

N-able, Inc. (NYSE:NABLGet Rating) reached a new 52-week low during trading on Tuesday . The company traded as low as $8.58 and last traded at $8.64, with a volume of 6818 shares. The stock had previously closed at $9.15.

Separately, Zacks Investment Research raised N-able from a “sell” rating to a “hold” rating in a report on Friday, March 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.30.

The stock’s fifty day simple moving average is $9.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.99.

N-able (NYSE:NABLGet Rating) last issued its earnings results on Thursday, February 24th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $89.50 million during the quarter, compared to analyst estimates of $89.06 million. N-able’s revenue was up 12.2% compared to the same quarter last year. On average, analysts forecast that N-able, Inc. will post 0.22 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in shares of N-able by 5.6% during the 4th quarter. Alliancebernstein L.P. now owns 22,111 shares of the company’s stock worth $245,000 after purchasing an additional 1,171 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in N-able by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 333,445 shares of the company’s stock valued at $3,702,000 after buying an additional 2,781 shares in the last quarter. JPMorgan Chase & Co. increased its position in N-able by 10.4% during the 4th quarter. JPMorgan Chase & Co. now owns 38,445 shares of the company’s stock valued at $426,000 after buying an additional 3,616 shares in the last quarter. Northern Trust Corp increased its position in N-able by 1.8% during the 4th quarter. Northern Trust Corp now owns 217,579 shares of the company’s stock valued at $2,415,000 after buying an additional 3,816 shares in the last quarter. Finally, Bank of America Corp DE increased its position in N-able by 67.7% during the 4th quarter. Bank of America Corp DE now owns 12,199 shares of the company’s stock valued at $135,000 after buying an additional 4,923 shares in the last quarter.

About N-able (NYSE:NABL)

N-able, Inc provides cloud-based software solutions for managed service providers (MSPs) 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. Its software platform is designed to be an enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.

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