N-Able

NABL · NYSE

$4.77+$0.22 (+4.84%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.55

NABL analyst rating

HoldConsensus of 6 analysts over the last 12 months. 33% rate it a buy.

Strong buy0
Buy2
Hold3
Underperform1
Sell0

12-month price target · 7 analysts

Average $4.77 (+0.1% upside)

Low: $3.69
Now: $4.77
High: $8.40

Upgrades and downgrades

The latest rating actions, newest first

NABL analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Aug 11, 2026	Downgrade	Outperform → Sector Perform	$6.00 → $4.00	61%
Scotiabank	Aug 11, 2026	Maintains	Sector Perform	$5.75 → $3.65	54%
BMO Capital	Aug 11, 2026	Maintains	Market Perform	$6.00 → $3.75	66%
Needham	Aug 11, 2026	Maintains	Buy	$6.50 → $4.00	63%
Scotiabank	May 8, 2026	Maintains	Sector Perform	$5.25 → $5.75	54%
Needham	May 8, 2026	Maintains	Buy	$8.00 → $6.50	63%
William Blair	Mar 23, 2026	Downgrade	Outperform → Underperform	—	49%
Needham	Mar 19, 2026	Maintains	Buy	$8.00	63%
Scotiabank	Feb 20, 2026	Maintains	Sector Perform	$8.75 → $5.25	54%
Needham	Feb 20, 2026	Maintains	Buy	$10.00 → $8.00	63%

The case for and against

Updated Oct 18, 2026

Bull case

N-able is well positioned to benefit from a differentiated MSP-centric model that avoids direct sales to SME end customers, reinforcing partner trust and enabling a more efficient land-and-expand motion across its platform. Recent fundamentals still support the bullish case: revenue was guided to $134.5 million to $135.5 million, ARR to $562.0 million to $565.0 million, and operating profit to $33.2 million, while operating margin reached 24.0% and net leverage remained manageable at 1.8x. Although growth has faced a setback, management is responding with a new CRO, a 6% RIF for $11 million to $13 million of annualized savings, pricing protection through SentinelOne, and aggressive repurchases, which should help stabilize execution and improve margin expansion.

Bear case

N-able is facing a negative fundamental setup because recent results disappointed on the most important growth metric, with ARR of $544.5M below consensus and sequential net-new ARR declining as renewal rates slipped from the high 80s to the mid-80s, especially in the largest Q2 renewal cohort. Management also cut CY/26 revenue, ARR, and EBITDA guidance across the board, while flagging pricing pressure in EDR and UEM, FX headwinds, a 6% RIF, a GTM leadership change, and a material weakness in internal controls that led to an amended 10-K. Although adjusted EBITDA remained roughly $40M and free cash flow was described as strong, the combination of weaker execution, cyber incident risk, and an unproven 2027 AI contribution supports a cautious view.

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