SolarWinds (NYSE:SWI – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.21-0.23 for the period, compared to the consensus estimate of $0.23. The company issued revenue guidance of $186-191 million, compared to the consensus revenue estimate of $190.14 million. SolarWinds also updated its FY24 guidance to $1.00-1.04 EPS.
Wall Street Analysts Forecast Growth
SWI has been the topic of a number of recent research reports. JPMorgan Chase & Co. began coverage on SolarWinds in a research report on Thursday, February 1st. They set a neutral rating and a $14.00 price target on the stock. Truist Financial initiated coverage on shares of SolarWinds in a research note on Wednesday, March 6th. They issued a hold rating and a $13.00 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $13.50.
Read Our Latest Stock Report on SolarWinds
SolarWinds Stock Performance
SolarWinds (NYSE:SWI – Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $198.14 million for the quarter, compared to the consensus estimate of $190.54 million. SolarWinds had a net margin of 1.58% and a return on equity of 6.33%. Research analysts forecast that SolarWinds will post 0.62 EPS for the current fiscal year.
SolarWinds Dividend Announcement
The company also recently declared a dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, April 2nd.
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.
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