Equities research analysts at Jefferies Group lowered their price target on shares of SolarWinds (NYSE: SWI) from $64.00 to $59.00 in a research note issued to investors on Wednesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective suggests a potential upside of 40.44% from the company’s current price.
The analysts wrote, “SWI closed its acquisition of N-able Technologies and there are reasons to be skeptical—specifically with the addition of a slightly different sales approach. But, we also believe SWI did not overpay to obtain a growth subscription model and the company has a successful record of taking methodical steps to position for sustainable long term growth. Patience is a part of the integration, but we continue to like the longer term thesis.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest downgraded shares of SolarWinds from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, May 22nd. Separately, analysts at Northland Securities cut their price target on shares of SolarWinds from $60.00 to $55.00 in a research note to investors on Thursday, May 2nd. Finally, analysts at JP Morgan Cazenove cut their price target on shares of SolarWinds from $76.00 to $73.00 in a research note to investors on Wednesday, May 1st. They now have an “overweight” rating on the stock.
Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.25.
SolarWinds (NYSE: SWI) opened at 42.01 on Wednesday. SolarWinds has a 1-year low of $39.10 and a 1-year high of $61.52. The stock’s 50-day moving average is currently $47.16. The company has a market cap of $3.159 billion and a price-to-earnings ratio of 36.85.
SolarWinds (NYSE: SWI) last released its earnings data on Tuesday, April 30th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.04. The company had revenue of $72.90 million for the quarter, compared to the consensus estimate of $75.66 million. During the same quarter last year, the company posted $0.30 earnings per share. SolarWinds has set its Q2 guidance at $0.37-0.38 EPS and its FY13 guidance at $1.59-1.65 EPS. On average, analysts predict that SolarWinds will post $1.57 earnings per share for the current fiscal year.
SolarWinds, Inc. (NYSE: SWI) designs, develops, markets, sells and supports enterprise information technology (IT) infrastructure management software to IT professionals in organizations of all sizes.