N-able (NYSE:NABL) Releases Earnings Results, Beats Estimates By $0.04 EPS

N-able (NYSE:NABL) issued its earnings results on Thursday. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04, Briefing.com reports. N-able had a return on equity of 4.38% and a net margin of 6.27%. The firm had revenue of $119.40 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same period last year, the business earned $0.03 earnings per share. N-able’s quarterly revenue was up 12.5% compared to the same quarter last year. N-able updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

N-able Price Performance

NABL traded down $0.58 during midday trading on Friday, hitting $13.05. The company had a trading volume of 544,072 shares, compared to its average volume of 571,234. N-able has a twelve month low of $11.50 and a twelve month high of $15.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.01 and a current ratio of 3.01. The firm’s 50-day simple moving average is $14.25 and its 200-day simple moving average is $13.39. The company has a market capitalization of $2.41 billion, a PE ratio of 93.21 and a beta of 0.47.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 price target on shares of N-able in a research note on Friday.

Insider Activity at N-able

In other news, EVP Frank Colletti sold 3,333 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the sale, the executive vice president now owns 453,475 shares in the company, valued at $6,910,959. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Kathleen Pai sold 13,390 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $15.02, for a total value of $201,117.80. Following the transaction, the executive vice president now directly owns 538,194 shares in the company, valued at $8,083,673.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Frank Colletti sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $15.24, for a total transaction of $50,794.92. Following the completion of the transaction, the executive vice president now directly owns 453,475 shares in the company, valued at $6,910,959. The disclosure for this sale can be found here. Insiders sold a total of 21,432 shares of company stock valued at $322,736 over the last quarter. Corporate insiders own 1.43% of the company’s stock.

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.