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N-able (NABL) Surges 9.9%: Is This an Indication of Further Gains?

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. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. This represents a change of -400% from what the company reported a year ago. AgileThought, Inc. currently has a Zacks Rank of #3 (Hold).

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