N-Able Inc. (NABL) PT Lowered to $6.50 at Needham
Needham analyst Mike Cikos lowered the price target on N-Able Inc. (NYSE: NABL) to $6.50 (from $8.00) while maintaining a Buy rating.
The analyst commented: "N-able reported solid 1QCY26 results, but left CY26 ARR, Revenue, and Adjusted EBITDA guidance unchanged based on (1) the early timing of the year and (2) appropriate conservatism for products slated to go-live in 2HCY26 but not yet producing Revenue. As a result, we think N-able's product roadmap can serve as an upside catalyst in the back-half of the year.
We also note the enhanced visibility and strong 1QCY26 results when considering mix-shift toward ratably-recognized Subscription Revenue.
The company's move upmarket is leading to more 6-/7-figure deals, but may create greater variability to quarterly ARR. We view N-able as well-positioned to help MSPs (1) streamline labor costs with automation; (2) control shadow AI; and (3) manage, protect, and recover Agents.
We maintain our Buy but lower our Price Target to $6.50 using 18.0x EV/FCF."