12 Best Tech Stocks to Buy Right Now Under $10

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3. N-Able Inc. (NYSE:NABL)

Current Market Price: $9.76; Upside Potential: 38%

Number of hedge funds: 27

N-Able Inc. (NYSE:NABL) provides cloud-based IT management and security solutions for managed service providers (MSPs). The company offers a comprehensive suite of products designed to enhance the efficiency and effectiveness of IT service delivery, including remote monitoring and management, backup and disaster recovery, and cybersecurity solutions. Its platform is designed to help businesses streamline operations, improve service quality, and drive growth through automation and advanced analytics.

On November 20, 2024, N-Able Inc. (NYSE:NABL) announced the acquisition of Adlumin for a total consideration of $236 million to $266 million ($100 million cash and 1.57 million in N-Able shares). Adlumin is a security-operations-as-a-service platform and an expert in Extended Detection and Response (XDR) and Managed Detection and Response (MDR). Adlumin brings with it $22 million in annual recurring revenue (ARR), which is growing at a robust rate of over 60%. The acquisition enhances the company’s value proposition by combining IT Management, Data Protection, and Security under one roof. Additionally, it unlocks the $163 billion cybersecurity services addressable market for N-Able Inc. (NYSE:NABL), substantially enhancing its growth prospects. With this deal, the company is well-positioned to capitalize on the increasing demand for IT management solutions as businesses continue to adopt cloud technologies and seek to bolster their cybersecurity measures.

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