N-able (NYSE:NABL) Initiates Stock Repurchase Plan

N-able (NYSE:NABL) declared that its board has authorized a share buyback program on Friday, August 28th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

N-able Price Performance

NYSE NABL opened at $4.22 on Monday. The company has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $4.32. N-able has a 52 week low of $2.92 and a 52 week high of $8.73. The stock has a market cap of $797.20 million, a price-to-earnings ratio of -211.00 and a beta of 0.50. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.48.

N-able (NYSE:NABL) last released its earnings results on Monday, August 10th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. N-able had a negative net margin of 0.88% and a positive return on equity of 3.55%. The firm had revenue of $138.22 million for the quarter, compared to analysts’ expectations of $138.08 million. During the same quarter last year, the company earned $0.11 EPS. N-able’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts forecast that N-able will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NABL. Zacks Research raised shares of N-able from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Scotiabank lowered their price target on shares of N-able from $5.75 to $3.65 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of N-able from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Royal Bank Of Canada cut shares of N-able from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $6.00 to $4.00 in a report on Tuesday, August 11th. Finally, Needham & Company LLC reduced their price objective on shares of N-able from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.08.

About N-able

N-able (NYSE:NABL) is a cloud-based software provider specializing in solutions for managed service providers (MSPs). The company’s platform offers remote monitoring and management (RMM), backup and disaster recovery, endpoint detection and response (EDR), security information and event management (SIEM), and automation tools. By integrating these services into a unified interface, N-able enables MSPs to streamline IT operations, enhance security posture, and deliver proactive maintenance across on-premises, cloud, and hybrid environments.

Headquartered in Toronto, Canada, N-able traces its origins to the managed services division of SolarWinds before completing a spin-off and initial public offering in mid-2021.