Brokerages Set SolarWinds Co. (NYSE:SWI) Price Target at $14.00

SolarWinds Co. (NYSE:SWI) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several brokerages have recently commented on SWI. Robert W. Baird raised their target price on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. Scotiabank began coverage on SolarWinds in a report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 target price on the stock.

Hedge Funds Weigh In On SolarWinds

A number of large investors have recently modified their holdings of SWI. Allspring Global Investments Holdings LLC lifted its position in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after acquiring an additional 1,001 shares during the last quarter. ProShare Advisors LLC raised its position in shares of SolarWinds by 14.4% in the first quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker’s stock valued at $157,000 after buying an additional 1,565 shares in the last quarter. GAMMA Investing LLC raised its position in shares of SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after buying an additional 1,603 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of SolarWinds by 1.2% in the second quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock valued at $1,884,000 after buying an additional 1,793 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of SolarWinds by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,746 shares of the software maker’s stock valued at $414,000 after buying an additional 2,145 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

SolarWinds Price Performance

SWI stock opened at $13.12 on Friday. SolarWinds has a 1 year low of $10.14 and a 1 year high of $13.45. The stock has a 50-day simple moving average of $12.72 and a 200-day simple moving average of $12.14. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $2.22 billion, a P/E ratio of 59.64 and a beta of 0.96.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. SolarWinds had a return on equity of 7.99% and a net margin of 4.93%. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. During the same quarter in the previous year, the business earned $0.11 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts predict that SolarWinds will post 0.71 earnings per share for the current fiscal year.

About SolarWinds

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.