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. The company appears to be overvalued, particularly when considering its P/E ratio of 77, which is significantly higher than peers like Doximity, Inc. with a P/E of 54.88 and ACI Worldwide, Inc. at 25.62. Additionally, N-able's EV to EBITDA stands at 26.84, compared to Doximity's 48.71, suggesting that while N-able is not the most expensive on this metric, it still does not present a compelling valuation relative to its peers.
The company's return performance has been notably poor, with a year-to-date return of -18.63% compared to the S&P 500's 13.30%, and a one-year return of -39.1% against the index's 14.08%. This underperformance reinforces the notion that N-able, Inc. may not be a favorable investment at its current valuation levels.