N-able (NABL)
NYSE:NABL
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N-able
(NYSE:NABL)
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Rating:61Neutral
Price Target:
$4.00
▼(-23.08% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily supported by strong and improving free cash flow and a solid capital position, reinforced by upbeat FY2026 profitability and cash-flow guidance. These positives are tempered by weakened GAAP profitability and slowing recent revenue growth, alongside a technically weak price trend with the stock trading below major moving averages.
Positive Factors
Durable cash generation
Consistent positive operating cash flow (~$91M TTM) and healthy free cash flow (~$74M TTM) create durable internal funding for R&D, sales expansion, and debt flexibility. Over 2–6 months this supports reinvestment, cushions execution risk, and reduces reliance on external financing.
Negative Factors
Revenue growth deceleration
Trend from mid/upper-double-digit growth to low-single-digits reduces the pace of scale benefits from ARR-led economics. Slower top-line expansion pressures future margin expansion and makes achieving ambitious EBITDA/FCF targets harder without deeper margin or product-led adoption gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Durable cash generation
Consistent positive operating cash flow (~$91M TTM) and healthy free cash flow (~$74M TTM) create durable internal funding for R&D, sales expansion, and debt flexibility. Over 2–6 months this supports reinvestment, cushions execution risk, and reduces reliance on external financing.
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
$689.46M
Dividend YieldN/A
Average Volume (3M)2.08M
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue Growth11.97%
EPS Growth-163.02%
CountryUS
Employees1,800
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-0.05
Shares Outstanding188,378,300
10 Day Avg. Volume1,747,615
30 Day Avg. Volume2,081,308
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 Cap1.46
Enterprise Value/Revenue1.91
Enterprise Value/Gross Profit2.46
Enterprise Value/Ebitda10.55
Forecast
1Y Price Target
$6.85Price Target Upside31.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.42
Revenue Forecast (FY)$556.25M
N-able Business Overview & Revenue Model
Company Description
N-able, Inc. provides cloud-based software solutions for managed service providers (MSPs) in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small ...
How the Company Makes Money
N-able primarily makes money by selling its software products to MSPs under subscription-based arrangements, generating recurring revenue that is typically billed monthly or annually. Key revenue streams come from licensing its RMM and security/ba...
N-able Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented a predominately positive operational and financial picture: solid ARR and subscription growth, improved retention, strong adjusted EBITDA margin and raised free cash flow expectations. Management emphasized durable market tailwinds driven by a worsening threat landscape and early traction from AI-enabled products that convert labor into software-led capabilities. Headwinds noted include moderated revenue growth guidance into the year, lengthening sales cycles as the company moves upmarket, modest gross margin compression, and early-stage monetization for some new offerings (N-zo and DRaaS). Overall, the positives (growth, retention, margin, cash flow, platform traction and AI innovation) outweigh the manageable near-term execution and timing risks.Positive Updates
Strong ARR and Subscription Growth
Total ARR of $548M, up 11% year-over-year reported and 8% in constant currency; subscription revenue of $132M, up ~13% year-over-year reported and 9% constant currency.
Negative Updates
Moderation in Revenue Growth and Guidance
Q2 guidance implies slower growth (5%–6% y/y reported; ~4% constant currency) versus recent quarterly trends; full-year revenue growth guide of ~7%–9% indicates a moderated acceleration versus some prior quarters.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong ARR and Subscription Growth
Total ARR of $548M, up 11% year-over-year reported and 8% in constant currency; subscription revenue of $132M, up ~13% year-over-year reported and 9% constant currency.
Read all positive updates
Company Guidance
Management guided Q2 2026 total revenue of $137.5–$138.5M (≈5–6% Y/Y reported, ~4% constant‑currency) and adjusted EBITDA of $39.5–$40.5M (≈29% margin); for full‑year 2026 they expect total revenue $554–$559M (≈8–9% Y/Y reported, 7–8% constant), ARR $581–$586M (8–9% Y/Y), adjusted EBITDA $167–$171M (30–31% margin), unlevered free cash flow ~$116–$120M (raised), CapEx about 5% of revenue (including capitalized software development), cash interest ≈$27M, weighted average diluted shares ~189–192 for Q2 and 188–192 for the full year, and a non‑GAAP tax rate of ~24–27%; guidance assumes FX of €1 = $1.17 and £1 = $1.34.N-able Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 526.91M | 511.43M | 466.15M | 421.88M | 371.77M | 346.46M |
| Gross Profit | 409.07M | 392.85M | 385.47M | 353.67M | 313.16M | 294.02M |
| EBITDA | 95.47M | 82.44M | 110.03M | 94.65M | 72.55M | 65.09M |
| Net Income | -10.48M | -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 | 117.81M | 111.84M | 85.20M | 153.05M | 98.85M | 66.74M |
| Total Debt | 435.66M | 459.64M | 369.19M | 374.52M | 375.87M | 381.53M |
| Total Liabilities | 596.49M | 605.25M | 579.56M | 451.43M | 436.79M | 437.34M |
| Stockholders Equity | 798.83M | 804.65M | 759.29M | 711.36M | 642.07M | 618.36M |
Cash Flow | ||||||
| Free Cash Flow | 74.46M | 75.06M | 55.71M | 67.75M | 50.40M | 10.51M |
| Operating Cash Flow | 91.00M | 93.20M | 79.44M | 90.09M | 71.41M | 45.34M |
| Investing Cash Flow | -27.12M | -28.96M | -122.42M | -22.34M | -30.21M | -34.83M |
| Financing Cash Flow | -37.76M | -40.63M | -22.59M | -15.17M | -10.40M | -42.32M |
N-able Technical Analysis
Negative
5.20
Price Trends
4.69
Negative
5.27
Negative
6.52
Negative
Market Momentum
-0.40
Positive
33.91
Neutral
29.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NABL, the sentiment is Negative. The current price of 5.2 is above the 20-day moving average (MA) of 4.43, above the 50-day MA of 4.69, and below the 200-day MA of 6.52, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 33.91 is Neutral, neither overbought nor oversold. The STOCH value of 29.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NABL.
N-able Risk Analysis
N-able disclosed 30 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.99B | 28.40 | 0.01% | ― | 32.49% | 539.48% | |
64 Neutral | $564.12M | 6.26 | 21.23% | ― | 15.95% | 88.76% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $689.46M | -356.03 | -1.30% | ― | 11.97% | -163.02% | |
52 Neutral | $2.00B | -7.33 | -50.67% | ― | -20.34% | -8.67% | |
51 Neutral | $908.15M | -43.99 | 6.50% | ― | -7.28% | ― | |
51 Neutral | $1.35B | -2.86 | -55.55% | ― | -16.22% | -41.59% |
* Technology Sector Average
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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.