Why N-Able (NABL) Stock Is Firing Today - N-able (NYSE:NABL)

On March 28, N-Able, Inc NABL disclosed that it would replace iStar Inc STAR in the S&P SmallCap 600 effective before trading on Monday, April 3.
S&P SmallCap 600 constituent Safehold Inc SAFE is acquiring iStar effective before the opening of trading on March 31.
Immediately before its acquisition by Safehold, iStar will distribute shares in Star Holdings STHOV.
Star Holdings is not eligible for the S&P SmallCap 600 following the spin-off transaction as it does not represent the small-cap market space.
In February, N-Able reported fourth-quarter revenue growth of 7% year-on-year to $95.8 million, beating the consensus of $93.6 million.
Subscription revenue grew by 7% Y/Y to $93.4 million.
The adjusted gross margin expanded by 410 bps to 27.8%.
Adjusted EPS of $0.10 beat the consensus of $0.07.
N-Able shares gained 17.9% YTD, beating the broader index SPDR S&P 500 SPY, which gained 3.9%.
Price Action: NABL shares traded higher by 13.7% at $13.81 premarket on the last check Wednesday.

Overview Rating:

Speculative

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Why N-Able Stock Is Firing Today