SolarWinds (NYSE:SWI) Shares Gap Up – What’s Next?

SolarWinds Co. (NYSE:SWI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $15.03, but opened at $18.27. SolarWinds shares last traded at $18.51, with a volume of 3,732,324 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SWI shares. Scotiabank upped their target price on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating in a research note on Friday. Royal Bank of Canada raised their price target on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird boosted their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.80.

SolarWinds Stock Performance

The business’s 50-day simple moving average is $14.37 and its 200 day simple moving average is $13.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $3.15 billion, a P/E ratio of 83.94 and a beta of 0.94.

Institutional Trading of SolarWinds

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of SolarWinds in the second quarter valued at about $129,000. The Manufacturers Life Insurance Company raised its position in SolarWinds by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 34,225 shares of the software maker’s stock valued at $412,000 after purchasing an additional 2,936 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of SolarWinds during the 2nd quarter worth approximately $230,000. SG Americas Securities LLC purchased a new position in shares of SolarWinds in the third quarter valued at approximately $385,000. Finally, GAMMA Investing LLC raised its position in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after purchasing an additional 1,603 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other 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.