Why N-Able Stock Is Firing Today

  • On March 28, N-Able, Inc NABL disclosed that it would replace iStar Inc STAR in the S&P SmallCap 600 effective before trading on Monday, April 3
  • S&P SmallCap 600 constituent Safehold Inc SAFE is acquiring iStar effective before the opening of trading on March 31.
  • Immediately before its acquisition by Safehold, iStar will distribute shares in Star Holdings STHOV.
  • Star Holdings is not eligible for the S&P SmallCap 600 following the spin-off transaction as it does not represent the small-cap market space.
  • In February, N-Able reported fourth-quarter revenue growth of 7% year-on-year to $95.8 million, beating the consensus of $93.6 million.
  • Subscription revenue grew by 7% Y/Y to $93.4 million.
  • The adjusted gross margin expanded by 410 bps to 27.8%.
  • Adjusted EPS of $0.10 beat the consensus of $0.07.
  • N-Able shares gained 17.9% YTD, beating the broader index SPDR S&P 500 SPY, which gained 3.9%.
  • Price Action: NABL shares traded higher by 13.7% at $13.81 premarket on the last check Wednesday.
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