N-able (NYSE:NABL) Shares Gap Up – Time to Buy?

N-able, Inc. (NYSE:NABL) shares gapped up before the market opened on Thursday . The stock had previously closed at $7.78, but opened at $8.55. N-able shares last traded at $8.3350, with a volume of 210,603 shares traded.

Wall Street Analysts Forecast Growth

NABL has been the subject of a number of recent research reports. Scotiabank reissued a “sector perform” rating and set a $8.75 price objective (up from $8.30) on shares of N-able in a research note on Friday, August 8th. Weiss Ratings reissued a “sell (d)” rating on shares of N-able in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of N-able from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.31.

N-able Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 418.46 and a beta of 0.61. The company’s fifty day moving average is $7.97 and its two-hundred day moving average is $7.86.

N-able (NYSE:NABL) last posted its earnings results on Thursday, August 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. N-able had a net margin of 0.59% and a return on equity of 4.13%. The business had revenue of $131.25 million for the quarter, compared to analyst estimates of $125.87 million. During the same quarter in the previous year, the business posted $0.14 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts forecast that N-able, Inc. will post 0.27 EPS for the current year.

Insider Activity

In other news, EVP Michael I. Adler sold 31,728 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $7.72, for a total value of $244,940.16. Following the completion of the sale, the executive vice president owned 468,555 shares of the company’s stock, valued at approximately $3,617,244.60. The trade was a 6.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Johnson sold 34,568 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $7.70, for a total transaction of $266,173.60. Following the sale, the director directly owned 37,424 shares of the company’s stock, valued at approximately $288,164.80. This represents a 48.02% decrease in their position. The SEC filing for this sale provides additional information. 1.50% of the stock is currently owned by insiders.

Institutional Trading of N-able

A number of institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in N-able by 1,030.5% during the second quarter. Parallel Advisors LLC now owns 3,516 shares of the company’s stock valued at $28,000 after purchasing an additional 3,205 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in N-able by 241.4% during the first quarter. PNC Financial Services Group Inc. now owns 4,162 shares of the company’s stock valued at $30,000 after purchasing an additional 2,943 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in N-able by 1,970.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,789 shares of the company’s stock valued at $31,000 after purchasing an additional 3,606 shares during the last quarter. Signaturefd LLC lifted its stake in N-able by 1,410.3% during the second quarter. Signaturefd LLC now owns 6,615 shares of the company’s stock valued at $54,000 after purchasing an additional 6,177 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of N-able during the first quarter valued at approximately $72,000. 96.35% of the stock is owned by institutional investors and hedge funds.

About N-able

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