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N-able
(NYSE:NABL)
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Rating:56Neutral
Price Target:
$5.50
▲(39.24% Upside)
Action:Reiterated
Date:08/28/26
The score is held back primarily by deteriorating recent financial performance (TTM revenue drop, margin compression, and losses) and weak price trend signals (below key moving averages with negative MACD). Offsetting factors include a relatively stable balance sheet and ongoing positive operating cash flow/FCF, plus earnings-call guidance pointing to continued strong EBITDA/FCF generation despite near-term renewal and competitive headwinds.
Positive Factors
Recurring Revenue Base
The subscription model and 6% ARR growth provide a recurring revenue foundation that can support durable forecasting and customer retention. Because MSPs embed N-able tools into ongoing services, expanding managed devices, modules, and client portfolios can create continued opportunities for account growth.
Negative Factors
Revenue and Profitability Deterioration
The sharp TTM revenue decline and movement from prior profits to losses weaken confidence in near-term earnings durability. Even with strong gross margins, lower operating profitability suggests costs are not yet absorbing the change in growth, potentially limiting reinvestment and financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Base
The subscription model and 6% ARR growth provide a recurring revenue foundation that can support durable forecasting and customer retention. Because MSPs embed N-able tools into ongoing services, expanding managed devices, modules, and client portfolios can create continued opportunities for account growth.
Read all positive factors
N-able Key Performance Indicators (KPIs)
Any
Revenue by Type
Categorizes revenue based on different streams, such as product sales or services, highlighting the diversity of income sources and potential areas of growth or risk.
Categorizes revenue based on different streams, such as product sales or services, highlighting the diversity of income sources and potential areas of growth or risk.
Data provided by:
The Fly
The FlyN-able (NABL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$978.53M
Dividend YieldN/A
Average Volume (3M)2.36M
Price to Earnings (P/E)―
Beta (1Y)0.91
Revenue Growth10.44%
EPS Growth-276.69%
CountryUS
Employees1,978
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.02
Shares Outstanding188,906,050
10 Day Avg. Volume1,339,628
30 Day Avg. Volume2,360,452
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)1.75
Price to Sales (P/S)2.75
P/FCF Ratio18.72
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue1.90
Enterprise Value/Gross Profit2.46
Enterprise Value/Ebitda12.19
Forecast
1Y Price Target
$4.68Price Target Upside18.48% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.39
Revenue Forecast (FY)$540.84M
N-able Business Overview & Revenue Model
Company Description
N-able, Inc. furnishes cloud-powered software offerings specifically for managed service providers (MSPs) across the United States, the United Kingdom, and globally. These solutions are crafted to enable MSPs to facilitate digital modernization an...
How the Company Makes Money
N-able primarily makes money by selling subscription-based software to managed service providers (MSPs) and other IT service organizations. Revenue is largely recurring and is generated from licensing access to its cloud software products (typical...
N-able Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call highlights solid underlying fundamentals: recurring ARR growth (6% YoY), strong profitability (29% adjusted EBITDA margin), robust cash generation, accelerating data protection momentum (DRaaS launch and >$200M ARR), meaningful AI-driven productivity gains, and clear product and go-to-market initiatives (new CRO, FedRAMP EDR, Google Workspace backup). However, near-term headwinds are material: weaker-than-expected renewal rates in a large Q2 cohort (primarily UEM and EDR), pricing pressure and competitive displacement in EDR, FX and a small Q1 revenue revision, and an organizational transition that will cause short-term execution variability and a ~6% workforce reduction with restructuring costs. Management has concrete remediation plans (renewal motion improvements, SentinelOne SKU agreement, product launches and cost realignment) and expects improvement into 2027, but the company explicitly revised guidance to reflect these near-term pressures.Positive Updates
ARR and Revenue Growth
Second quarter ARR of $544M, up 6% year-over-year (constant currency). Total revenue $138M, ~6% YoY growth (5% constant currency). Subscription revenue $137M, ~6% YoY.
Negative Updates
Updated Guidance and Near-Term Top-Line Pressure
Management updated 2026 top-line guidance downward citing go-to-market leadership transition and shifting UEM/EDR dynamics. Full-year revenue outlook $539M–$542M (~6%–7% YoY) and ARR guidance $562M–$565M (4%–5% YoY) that reflect near-term pressure versus prior ambitions.
Read all updates
Q2-2026 Updates
Positive
Negative
ARR and Revenue Growth
Second quarter ARR of $544M, up 6% year-over-year (constant currency). Total revenue $138M, ~6% YoY growth (5% constant currency). Subscription revenue $137M, ~6% YoY.
Read all positive updates
Company Guidance
N‑able updated 2026 guidance and near‑term outlook with specific targets: Q3 revenue of $134.5–135.5M (≈3% y/y reported, 3–4% constant‑currency) and Q3 adjusted EBITDA of $41–42M (≈30–31% margin); full‑year revenue $539–542M (≈6–7% y/y reported, 5% constant), ARR $562–565M (4–5% y/y reported, 5% constant), full‑year adjusted EBITDA $158–161M (≈29–30% margin) and unlevered free cash flow $116–120M, with CapEx expected at ~6% of revenue for 2026. The company reported Q2 ARR $544M (+6% y/y), Q2 revenue $138M (+6% reported, +5% constant), Q2 adjusted EBITDA $40M (29% margin), Q2 unlevered FCF $23M and Q2 CapEx $13M (9% of revenue, including $3M capitalized software). Balance sheet and other assumptions: cash ≈$116M, outstanding loan principal ≈$398M (net leverage ≈1.8x), added delayed‑draw term loan up to $75M, remaining share repurchase authorization $45M, expected cash interest ≈$27M, weighted average diluted shares Q3 189–192M (FY 188–192M), non‑GAAP tax rate 25–26%, and Q2 non‑GAAP EPS $0.10 on 189M shares. Guidance reflects FX assumptions (€1.13, £1.33) (driving ~ $2.5M revenue and ~$5M ARR headwinds versus prior guide), a $1.3M revision to Q1 revenue, an approximate 6% headcount reduction to save ~$11–13M of annualized operating expense (with estimated $4–6M of H2 restructuring charges), and continued focus on UEM/EDR renewal dynamics and new product tails (DRaaS, Google Workspace backup, incident response, FedRAMP EDR).N-able Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 533.88M | 511.43M | 466.15M | 421.88M | 371.77M | 346.46M |
| Gross Profit | 412.72M | 392.85M | 385.47M | 353.67M | 313.16M | 294.02M |
| EBITDA | 83.23M | 82.44M | 110.03M | 94.65M | 73.72M | 65.83M |
| Net Income | -4.70M | -17.03M | 30.96M | 23.41M | 16.71M | 113.00K |
Balance Sheet | ||||||
| Total Assets | 1.40B | 1.41B | 1.34B | 1.16B | 1.08B | 1.06B |
| Cash, Cash Equivalents and Short-Term Investments | 115.81M | 111.84M | 85.20M | 153.05M | 98.85M | 66.74M |
| Total Debt | 436.52M | 459.64M | 369.19M | 374.52M | 375.87M | 381.53M |
| Total Liabilities | 590.90M | 605.25M | 579.56M | 451.43M | 436.79M | 437.34M |
| Stockholders Equity | 804.63M | 804.65M | 759.29M | 711.36M | 642.07M | 618.36M |
Cash Flow | ||||||
| Free Cash Flow | 70.77M | 75.06M | 55.71M | 67.75M | 50.40M | 10.51M |
| Operating Cash Flow | 93.32M | 93.20M | 79.44M | 90.09M | 71.41M | 45.34M |
| Investing Cash Flow | -33.13M | -28.96M | -122.42M | -22.34M | -30.21M | -34.83M |
| Financing Cash Flow | -34.08M | -40.63M | -22.59M | -15.17M | -10.40M | -42.32M |
N-able Technical Analysis
Positive
3.95
Price Trends
4.22
Positive
4.08
Positive
4.52
Positive
Market Momentum
0.27
Negative
73.66
Negative
95.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NABL, the sentiment is Positive. The current price of 3.95 is below the 20-day moving average (MA) of 4.67, below the 50-day MA of 4.22, and below the 200-day MA of 4.52, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 73.66 is Negative, neither overbought nor oversold. The STOCH value of 95.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NABL.
N-able Risk Analysis
N-able disclosed 31 risk factors in its most recent earnings report. N-able reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
N-able Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $431.98M | -27.52 | -15.53% | ― | 65.93% | 71.75% | |
69 Neutral | $5.24B | 26.07 | 13.08% | ― | 2.68% | 46.40% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $978.53M | -210.57 | -0.58% | ― | 10.44% | -276.69% | |
52 Neutral | $77.19M | -57.83 | -10.74% | ― | 8.73% | 41.00% | |
48 Neutral | $75.30M | -102.75 | -1.53% | 1.61% | -0.68% | 57.82% |
* Technology Sector Average
NABL
N-able
5.18
-2.59
-33.33%
NSIT
Insight Enterprises
178.57
78.92
79.20%
WYY
Widepoint
7.72
1.27
19.69%
CSPI
CSP
7.47
-5.41
-41.98%
TLS
Telos
5.78
-1.09
-15.87%
VEEA
Veea
5.22
-7.55
-59.11%
N-able Corporate Events
Business Operations and StrategyStock Buyback
N-able Expands Share Repurchase Program, Signals Confidence
Positive
Aug 28, 2026
On August 26, 2026, N-able, Inc. announced that its board of directors approved a $50 million increase to its share repurchase program, which was originally launched in March 2025 with authorization of up to $75 million. The company had $45 millio...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
N-able Announces Workforce Reorganization to Streamline Operations
Neutral
Aug 10, 2026
On July 20, 2026, N-able approved a global workforce reorganization that will cut approximately 6% of its employees, incurring an estimated one-time charge of $4 million to $6 million, primarily for severance and related benefits. The move is inte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.