N-able (NYSE:NABL) Posts Earnings Results, Beats Estimates By $0.02 EPS

N-able (NYSE:NABLGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02, MarketWatch Earnings reports. The company had revenue of $90.90 million during the quarter, compared to analysts’ expectations of $90.29 million. The company’s 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.

NYSE:NABL traded up $0.52 during mid-day trading on Friday, hitting $9.02. 564,972 shares of the company’s stock traded hands, compared to its average volume of 313,706. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.99 and a current ratio of 1.99. The firm’s 50 day simple moving average is $9.72 and its 200 day simple moving average is $10.87. N-able has a 1 year low of $8.12 and a 1 year high of $16.00. The company has a market cap of $1.62 billion and a PE ratio of 180.44.

Separately, Zacks Investment Research upgraded shares of 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 issued a buy rating to the company. According to data from MarketBeat, N-able presently has a consensus rating of “Buy” and a consensus target price of $16.30.

A number of large investors have recently bought and sold shares of NABL. UBS Group AG purchased a new position in N-able during the 3rd quarter valued at about $104,000. Renaissance Technologies LLC acquired a new stake in shares of N-able during the 1st quarter worth about $120,000. Bank of America Corp DE boosted its stake in shares of N-able by 67.7% during the 4th quarter. Bank of America Corp DE now owns 12,199 shares of the company’s stock worth $135,000 after purchasing an additional 4,923 shares during the last quarter. Alliancebernstein L.P. boosted 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. Finally, Squarepoint Ops LLC boosted its stake in shares of N-able by 79.8% during the 4th quarter. Squarepoint Ops LLC now owns 24,701 shares of the company’s stock worth $274,000 after purchasing an additional 10,964 shares during the last quarter.

About N-able (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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