N-able, Inc. (NABL) saw its stock price plummet by 6.18% in Tuesday's trading session, underperforming the broader market.
The sell-off in N-able's shares was driven by multiple analyst firms lowering their price targets on the stock. Scotiabank analyst Joe Vandrick slashed the firm's price target on N-able from $11 to $8.75, while maintaining a Hold rating on the stock. RBC Capital also trimmed its price target on N-able from $12 to $10, despite keeping an Outperform rating.
The analysts' downward revisions reflect concerns over N-able's recent financial performance and future growth prospects. The company's fourth-quarter results, released last month, seem to have fallen short of market expectations, prompting analysts to reevaluate their valuation models.
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