SolarWinds (NYSE:SWI) Price Target Raised to $15.00

SolarWinds (NYSE:SWI) had its price objective upped by analysts at Scotiabank from $13.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the software maker’s stock. Scotiabank’s price target would indicate a potential upside of 4.42% from the stock’s previous close.

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

SolarWinds Stock Performance

Shares of SWI traded up $0.32 on Tuesday, reaching $14.37. The company’s stock had a trading volume of 116,149 shares, compared to its average volume of 397,723. 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 has a 12-month low of $10.14 and a 12-month high of $14.94. The stock has a market capitalization of $2.45 billion, a P/E ratio of 65.30 and a beta of 0.94. The stock’s 50 day simple moving average is $13.95 and its two-hundred day simple moving average is $13.02.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. Research analysts forecast that SolarWinds will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction on 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 in the company, valued at approximately $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 16,000 shares of the company’s stock in a transaction 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 directly owns 88,857 shares in the company, valued at approximately $1,166,692.41. The trade was a 15.26 % 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 in the last three months. 1.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in SolarWinds during the third quarter worth $3,673,000. Franklin Resources Inc. lifted its stake in SolarWinds by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after buying an additional 1,760 shares in the last quarter. Barclays PLC boosted its holdings in SolarWinds by 170.1% in the 3rd quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after buying an additional 59,532 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in SolarWinds during the 3rd quarter worth approximately $226,000. Finally, Geode Capital Management LLC raised its holdings in shares of SolarWinds by 1.3% during 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. Hedge funds and other institutional investors own 93.96% of the company’s stock.

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.