N-able (NYSE:NABL) Announces Quarterly Earnings Results

N-able (NYSE:NABLGet Rating) released its quarterly earnings data on Thursday. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02, MarketWatch Earnings reports. The business had revenue of $90.90 million during the quarter, compared to analysts’ expectations of $90.29 million. The company’s quarterly revenue was up 9.3% on a year-over-year basis. N-able updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

Shares of NABL stock opened at $9.02 on Friday. The stock has a market capitalization of $1.62 billion and a price-to-earnings ratio of 180.44. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $9.72 and its 200-day moving average price is $10.87. N-able has a 12-month low of $8.12 and a 12-month high of $16.00.

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

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in N-able in the 4th quarter valued at about $3,746,000. BlackRock Inc. increased its position in N-able by 13.2% during the 1st quarter. BlackRock Inc. now owns 2,656,901 shares of the company’s stock worth $24,177,000 after purchasing an additional 310,465 shares in the last quarter. Vanguard Group Inc. increased its position in N-able by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 5,722,006 shares of the company’s stock worth $52,070,000 after purchasing an additional 243,125 shares in the last quarter. Dimensional Fund Advisors LP increased its position in N-able by 53.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 690,366 shares of the company’s stock worth $6,283,000 after purchasing an additional 239,546 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in N-able by 398.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 261,582 shares of the company’s stock worth $2,904,000 after purchasing an additional 209,093 shares in the last quarter.

N-able Company Profile (Get Rating)

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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