SolarWinds (NYSE:SWI) Stock Price Expected to Rise, Scotiabank Analyst Says

SolarWinds (NYSE:SWI) had its price objective increased by Scotiabank from $13.00 to $15.00 in a report released on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the software maker’s stock.

Several other research firms have also recently issued reports on SWI. Wedbush assumed coverage on shares of SolarWinds in a research note on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price for the company. Robert W. Baird increased their target price on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised their target price on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.50.

SolarWinds Trading Up 2.1 %

Shares of SolarWinds stock opened at $14.35 on Tuesday. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $2.45 billion, a PE ratio of 65.22 and a beta of 0.94. The firm has a fifty day moving average price of $13.97 and a 200 day moving average price of $13.03.

SolarWinds (NYSE:SWI) last issued its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. Equities research analysts predict that SolarWinds will post 0.74 earnings per share for the current year.

Insider Buying and Selling at SolarWinds

In other SolarWinds news, insider Jason Bliss sold 135,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 838,789 shares of the company’s stock, valued at $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the transaction, the director now owns 88,857 shares in the company, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,000 shares of company stock valued at $4,703,780 over the last ninety days. Corporate insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On SolarWinds

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of SolarWinds by 16.6% in the second quarter. American Century Companies Inc. now owns 64,435 shares of the software maker’s stock valued at $776,000 after buying an additional 9,186 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in SolarWinds by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock valued at $69,603,000 after acquiring an additional 461,061 shares in the last quarter. Renaissance Technologies LLC raised its holdings in SolarWinds by 5.6% in the 2nd quarter. Renaissance Technologies LLC now owns 493,200 shares of the software maker’s stock valued at $5,943,000 after acquiring an additional 26,010 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in SolarWinds by 8.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 117,163 shares of the software maker’s stock worth $1,413,000 after purchasing an additional 8,799 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of SolarWinds during the 2nd quarter worth approximately $395,000. Institutional investors and hedge funds own 93.96% of the company’s stock.

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.