N-able (NABL) shares are expected to remain range-bound in the medium-term following a "disappointing" quarter and guidance, RBC Capital Markets said in a Monday note.

The report pointed to renewal issues with its Unified Endpoint Management and Endpoint Detection and Response products and challenges in upmarket/mid-market channel execution.

Looking ahead, the report said its data protection offerings create competitive differentiation, and its commentary around fiscal 2027 as an inflection point for growth is "interesting" given opportunities from new product launches.

"However, we would like to see a stabilization in renewal rates, greater traction in the channel, and early proof points from new product introductions before gaining more confidence in the longer-term growth algorithm," the note said.

RBC downgraded the stock to sector perform from outperform and lowered its price target to $4 from $6.

Price: 3.17, Change: -0.04, Percent Change: -1.28