SolarWinds (NYSE:SWI) Price Target Raised to $18.50

SolarWinds (NYSE:SWI) had its target price hoisted by Scotiabank from $15.00 to $18.50 in a report released on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the software maker’s stock.

SWI has been the subject of a number of other reports. Royal Bank of Canada boosted their target price on shares of SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Truist Financial reaffirmed a “hold” rating and set a $18.50 price objective (up previously from $13.00) on shares of SolarWinds in a research note on Monday. Robert W. Baird increased their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a report on Monday. Finally, Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $18.50 in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds has an average rating of “Hold” and an average price target of $18.00.

SolarWinds Trading Up 0.5 %

NYSE SWI opened at $18.32 on Monday. SolarWinds has a 12-month low of $10.14 and a 12-month high of $18.55. The company has a fifty day simple moving average of $14.73 and a two-hundred day simple moving average of $13.47. 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 stock has a market cap of $3.12 billion, a P/E ratio of 83.28 and a beta of 0.94.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. On average, analysts forecast that SolarWinds will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in SolarWinds by 93.3% during the fourth quarter. Wellington Management Group LLP now owns 2,174,522 shares of the software maker’s stock worth $30,987,000 after buying an additional 1,049,310 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of SolarWinds during the 4th quarter valued at about $13,886,000. State Street Corp increased its position in SolarWinds by 57.5% during the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after purchasing an additional 800,467 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in SolarWinds by 167.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 912,946 shares of the software maker’s stock worth $13,009,000 after purchasing an additional 571,539 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in SolarWinds in the 4th quarter valued at about $7,446,000. 93.96% of the stock is owned by hedge funds and other institutional investors.

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.