N-able (NABL) shares soared 9.9% in the trading session on Wednesday to close at $13.35. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 2.6% gain over the past four weeks.
The stock recorded this price increase after the company declared that it will join the S&P SmallCap 600 before the opening of trading on Monday, Apr 3.
This provider of cloud-based software services is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of -11.1%. Revenues are expected to be $97.96 million, up 7.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For N-able, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NABL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
N-able belongs to the Zacks Technology Services industry. Another stock from the same industry, AgileThought, Inc. (AGIL), closed the last trading session 0.3% lower at $3.19. Over the past month, AGIL has returned -25.6%.
For AgileThought, Inc.
Is THIS the Ultimate New Clean Energy Source? (4 Ways to Profit)
The world is increasingly focused on eliminating fossil fuels and ramping up use of renewable, clean energy sources. Hydrogen fuel cells, powered by the most abundant substance in the universe, could provide an unlimited amount of ultra-clean energy for multiple industries.
Our urgent special report reveals 4 hydrogen stocks primed for big gains – plus our other top clean energy stocks.
See Stocks Now
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
N-able, Inc. (NABL) : Free Stock Analysis Report
AgileThought, Inc. (AGIL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
