N-Able Inc Down 12.78% To $11.94 After Earnings Beat

N-Able Inc (NABL) reported better than expected earnings this morning for Q3 2023.

Analyst expectations for N-Able Inc earnings per share (EPS) were at $0.08, with the company surpassing those estimates with a reported EPS of $0.09, leading to a positive surprise of $0.01 per share (13%). N-Able Inc's earnings rose 29% year-over-year as the firm reported an EPS of $0.07 in its year-ago quarter. The positive annual growth shows the Technology company is performing well amid recent economic conditions.

Revenues were upbeat at $107.6 million. That is an increase of 15.01% in revenues from the year-ago report and is 1.04% higher than consensus estimates set at $106.5 million.

The stock is down 12.78% to $11.94 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 57. Meanwhile, the average Wall Street analyst rated the stock a Buy.

N-able Inc empowers managed services providers (MSPs) to help small and medium enterprises navigate the digital evolution. Its flexible technology platform and powerful integrations help MSPs to monitor, manage, and protect their end customer systems, data, and networks. Its portfolio of security, automation, and backup and recovery solutions is built for IT services management professionals. It simplifies complex ecosystems and enables customers to solve their most pressing challenges. The group also provides extensive, proactive support through enriching partner programs, hands-on training, and growth resources to help MSPs deliver exceptional value and achieve success at scale.