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

N-able (NYSE:NABLGet Rating) posted its quarterly earnings results 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 business’s quarterly revenue 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.

NABL traded up $0.52 during midday trading on Friday, reaching $9.02. The company had a trading volume of 564,972 shares, compared to its average volume of 313,706. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average of $9.72 and a two-hundred day moving average of $10.87. The company has a market cap of $1.62 billion and a P/E ratio of 180.44. N-able has a 1 year low of $8.12 and a 1 year high of $16.00.

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG purchased a new stake in shares of N-able during the third quarter worth about $104,000. Renaissance Technologies LLC purchased a new stake in shares of N-able during the first quarter worth about $120,000. Bank of America Corp DE grew its position in shares of N-able by 67.7% during the fourth 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 in the last quarter. Alliancebernstein L.P. grew its position in shares of N-able by 5.6% during the fourth quarter. Alliancebernstein L.P. now owns 22,111 shares of the company’s stock worth $245,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of N-able by 79.8% during the fourth quarter. Squarepoint Ops LLC now owns 24,701 shares of the company’s stock worth $274,000 after purchasing an additional 10,964 shares in the last quarter.

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

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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