SolarWinds (NYSE:SWI) Price Target Raised to $16.00 at Royal Bank of Canada

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

A number of other brokerages have also weighed in on SWI. Wedbush initiated coverage on SolarWinds in a research report on Thursday, December 19th. They set an “outperform” rating and a $20.00 price objective for the company. Robert W. Baird raised their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

SolarWinds Stock Performance

Shares of SWI opened at $14.62 on Tuesday. The business has a fifty day moving average of $14.01 and a 200 day moving average of $13.06. SolarWinds has a one year low of $10.14 and a one year high of $14.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $2.49 billion, a P/E ratio of 66.44 and a beta of 0.94.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating 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 net margin of 4.93% and a return on equity of 7.96%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. As a group, sell-side analysts anticipate that SolarWinds will post 0.74 EPS for the current year.

Insider Buying and Selling

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This trade represents 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, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the sale, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,000 shares of company stock valued at $4,703,780 over the last three months. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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