N-able (NYSE:NABL) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

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

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

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of N-able in the first quarter valued at about $120,000. Charles Schwab Investment Management Inc. grew its position in shares of N-able by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 344,553 shares of the company’s stock valued at $3,136,000 after purchasing an additional 11,108 shares during the last quarter. Sunriver Management LLC grew its position in shares of N-able by 9.1% in the first quarter. Sunriver Management LLC now owns 2,217,085 shares of the company’s stock valued at $20,175,000 after purchasing an additional 184,941 shares during the last quarter. Vanguard Group Inc. grew its position in shares of N-able by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,722,006 shares of the company’s stock valued at $52,070,000 after purchasing an additional 243,125 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of N-able by 53.1% in the first quarter. Dimensional Fund Advisors LP now owns 690,366 shares of the company’s stock valued at $6,283,000 after purchasing an additional 239,546 shares during 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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