Is N-able, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for N-able, Inc. has moved from attractive to fair, indicating a shift in its perceived value. Based on the current metrics, the company appears to be overvalued. The P/E ratio stands at 77, significantly higher than the industry average, while the EV to EBITDA ratio is 18.36, suggesting a premium pricing relative to earnings before interest, taxes, depreciation, and amortization. Additionally, the Price to Book Value is 1.99, which may imply that the stock is trading at nearly double its book value.
In comparison to its peers, N-able, Inc. has a P/E ratio of 99.28, while Doximity, Inc. is considered attractive with a P/E of 54.88, and ACI Worldwide, Inc. is also rated fair with a P/E of 25.62. This highlights that N-able is trading at a much higher valuation compared to its more favorably rated peers. Furthermore, N-able's stock has underperformed against the S&P 500, with a year-to-date return of -18.63% compared to the S&P 500's 13.30%, reinforcing the notion that the stock may be overvalued in the current market context.