SolarWinds (NYSE:SWI) Updates FY24 Earnings Guidance

SolarWinds (NYSE:SWI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.04-1.08 for the period, compared to the consensus earnings per share estimate of $1.03. The company issued revenue guidance of $778-188 million, compared to the consensus revenue estimate of $779.31 million. SolarWinds also updated its Q3 guidance to $0.24-0.26 EPS.

SolarWinds Stock Performance

Shares of SWI stock opened at $11.93 on Thursday. The business’s 50-day moving average price is $11.79 and its 200-day moving average price is $11.88. SolarWinds has a 12 month low of $8.83 and a 12 month high of $13.43. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 170.43 and a beta of 0.97. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.93.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, May 2nd. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $193.31 million for the quarter, compared to analyst estimates of $189.74 million. SolarWinds had a return on equity of 6.47% and a net margin of 1.58%. Equities research analysts forecast that SolarWinds will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on SolarWinds from $14.00 to $15.00 and gave the stock a neutral rating in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $13.80.

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.