SolarWinds (NYSE:SWI) Price Target Raised to $16.00

SolarWinds (NYSE:SWI) had its price objective lifted by Royal Bank of Canada from $13.00 to $16.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the software maker’s stock.

Several other equities analysts have also issued reports on the stock. Robert W. Baird boosted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wedbush started coverage on SolarWinds in a research report on Thursday, December 19th. They set an “outperform” rating and a $20.00 target price on the stock. Five 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 company presently has an average rating of “Hold” and a consensus price target of $15.50.

SolarWinds Trading Down 0.0 %

SWI opened at $14.62 on Tuesday. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94. The company has a market cap of $2.49 billion, a P/E ratio of 66.44 and a beta of 0.94. 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 company’s 50 day moving average is $14.01 and its 200-day moving average is $13.06.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million during 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 firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities research analysts predict that SolarWinds will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the stock in a transaction dated Monday, November 4th. The shares were 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 in the company, valued at approximately $10,921,032.78. This represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction dated Thursday, November 7th. The stock was 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. This represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock worth $4,703,780 in the last 90 days. Insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares in the last quarter. R Squared Ltd bought a new stake in shares of SolarWinds during the fourth quarter valued at approximately $38,000. Allworth Financial LP boosted its stake in SolarWinds by 732.1% during the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,331 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after acquiring an additional 1,001 shares in the last quarter. Finally, West Tower Group LLC raised its holdings in SolarWinds by 38.3% in the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after buying an additional 2,000 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.