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In a challenging market environment, NABL stock has reached a 52-week low, dipping to $10.49. This price level reflects a significant downturn from the previous year, with the stock experiencing a 1-year change of -10.75%. Investors are closely monitoring the company's performance, as this new low point could signal both a potential risk and a buying opportunity for those who believe in the company's long-term value proposition. The market's reaction to this new 52-week low will be telling of investor confidence in NABL's ability to navigate the current economic landscape and rebound from this downturn.
In other recent news, N-able has reported steady growth in its Q3 2024 earnings call. The company has seen an 8% increase in revenue from the previous year, amounting to $116.4 million, and a 23% increase in adjusted EBITDA to $44.8 million. N-able is also experiencing growth in its Cove Data Protection product, which is becoming a significant source of recurring revenue. Despite facing economic pressures, the company anticipates these challenges to ease by the second half of 2025.
N-able is revising its full-year revenue expectations to show a growth of 9% to 10%. The company is also focusing on long-term contracts, contributing to over 50% of its monthly recurring revenue, and plans to release two to three new products annually. The company's partner base has grown to 2,275, with 57% contributing over $50,000 in annual recurring revenue.
These developments come as N-able continues to strengthen its market presence and build cyber resilience for small to medium enterprises. However, the company is experiencing lower conversion rates from on-premise to SaaS, impacting its growth by approximately 4 percentage points in Q3. Despite these challenges, N-able remains committed to its strategic focus and anticipates improvements in the latter half of 2025.
InvestingPro Insights
As NABL stock hits a 52-week low, InvestingPro data provides additional context to the company's current situation. Despite the recent downturn, NABL maintains impressive gross profit margins of 84.03% for the last twelve months as of Q3 2024, indicating strong pricing power and efficient cost management. This aligns with an InvestingPro Tip highlighting the company's "impressive gross profit margins."
The company's revenue growth of 11.93% over the same period suggests that NABL continues to expand its business despite market challenges. Additionally, with a PEG ratio of 0.73, the stock may be undervalued relative to its growth prospects, potentially presenting an opportunity for value investors.
An InvestingPro Tip notes that the stock is "trading at a low P/E ratio relative to near-term earnings growth," which could be particularly relevant given the current 52-week low price point. This suggests that the market may be underestimating NABL's future earnings potential.
For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips that could provide further insights into NABL's financial health and market position.
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