N-able leaps after Q3 rev beat

SolarWinds

10/11/2022 17:26

** Shares of data security firm N-albe Inc  NABL.N  up 13.5%
at $11.00 after topline beat
    ** NABL leaps as much as 26.1% to $12.22, highest since last
Dec
    ** Co says Q3 total rev rose 6% yr/yr (13% on constant
currency basis) to $93.5 mln, topping Refinitiv IBES est of
$92.9 mln  urn:newsml:reuters.com:*:nBw5jhzQYa
    ** Subscription rev was $91.2 mln in qtr
    ** Q3 adj EPS of 7 cents inline with consensus
    ** For FY22, co projects rev of $369.3-$369.8 mln,
representing 7% yr/yr growth (12%-13% on constant currency
basis) below Street view of $371 mln
    ** Avg rating among 5 analysts is "buy" with $12 median PT,
per Refinitiv data
    ** Move in NABL on Thurs comes amid broad market rally after
cooling inflation data raises hopes of smaller Fed rate hikes
 .N 
    ** With advance on the session, shares off 1% YTD
    ** N-able debuted in Jul 2021 after being spun out of
SolarWinds Corp  SWI.N 
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))