N-able price target lowered to $8.50 from $13.50 at BMO Capital

BMO Capital lowered the firm’s price target on N-able (NABL) to $8.50 from $13.50 and keeps a Market Perform rating on the shares. The company reported a reasonable December quarter, though management’s FY25 revenue and adjusted EBITDA margin guide, inclusive of Adlumin, is weaker than expected, the firm says. BMO thinks that N-able’s implied organic growth for next year is disappointing, partially due to ongoing annual contract initiative headwinds. It is positive on Adlumin and the company’s opportunity in the security market more broadly, though the firm says it needs to see greater revenue durability and execution consistency before it gets more constructive on the shares.