SolarWinds (NYSE:SWI) Given New $18.50 Price Target at Scotiabank

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

Several other brokerages have also recently issued reports on SWI. 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 research report on Monday. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $18.50 in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Truist Financial restated a “hold” rating and set a $18.50 price target (up previously from $13.00) on shares of SolarWinds in a report on Monday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, SolarWinds presently has a consensus rating of “Hold” and a consensus target price of $18.00.

SolarWinds Trading Up 0.5 %

Shares of SWI stock opened at $18.32 on Monday. The company has a 50-day moving average of $14.73 and a two-hundred day moving average of $13.47. The firm has a market cap of $3.12 billion, a PE ratio of 83.28 and a beta of 0.94. SolarWinds has a 1-year low of $10.14 and a 1-year high of $18.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71.

SolarWinds (NYSE:SWI) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.41 earnings per share (EPS) 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 predict that SolarWinds will post 0.74 EPS for the current year.

Institutional Investors Weigh In On SolarWinds

Several hedge funds and other institutional investors have recently made changes to their positions in SWI. Vanguard Group Inc. increased its stake in SolarWinds by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,865,366 shares of the software maker’s stock valued at $97,831,000 after purchasing an additional 192,198 shares during the last quarter. State Street Corp grew its position in shares of SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after buying an additional 800,467 shares during the last quarter. Wellington Management Group LLP raised its stake in SolarWinds by 93.3% during the 4th quarter. Wellington Management Group LLP now owns 2,174,522 shares of the software maker’s stock worth $30,987,000 after acquiring an additional 1,049,310 shares in the last quarter. Geode Capital Management LLC lifted its position in SolarWinds by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,290,044 shares of the software maker’s stock valued at $16,839,000 after acquiring an additional 16,730 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in SolarWinds in the fourth quarter valued at $13,886,000. 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.