FY2024 Earnings Forecast for SolarWinds Issued By Scotiabank

SolarWinds Co. (NYSE:SWI) – Scotiabank issued their FY2024 earnings estimates for shares of SolarWinds in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the software maker will earn $0.75 per share for the year. The consensus estimate for SolarWinds’ current full-year earnings is $0.74 per share. Scotiabank also issued estimates for SolarWinds’ FY2025 earnings at $0.63 EPS.

Several other research firms have also weighed in on SWI. Wedbush started coverage on shares of SolarWinds in a research note on Thursday, December 19th. They set an “outperform” rating and a $20.00 target price for the company. Robert W. Baird increased their price target on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

SolarWinds Price Performance

Shares of NYSE SWI opened at $13.54 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 61.55 and a beta of 0.94. SolarWinds has a twelve month low of $10.14 and a twelve month high of $14.94. The business has a 50 day simple moving average of $13.92 and a 200-day simple moving average of $12.95.

SolarWinds (NYSE:SWI) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The business had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.

Insider Activity

In related news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the transaction, the insider now directly owns 838,789 shares of the company’s stock, valued at $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,000 shares of company stock worth $4,703,780 over the last three months. Corporate insiders own 1.95% of the company’s stock.

Institutional Trading of SolarWinds

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of SolarWinds by 732.1% during the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock valued at $49,000 after purchasing an additional 3,331 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of SolarWinds by 24.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after purchasing an additional 1,001 shares during the period. West Tower Group LLC increased its stake in SolarWinds by 38.3% in the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in SolarWinds by 74.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 9,425 shares of the software maker’s stock worth $114,000 after buying an additional 4,025 shares during the period. 93.96% of the stock is currently owned by institutional investors.

SolarWinds Company Profile

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.