SolarWinds (NYSE:SWI) Updates FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.080-1.090 for the period, compared to the consensus earnings per share estimate of 1.060. The company issued revenue guidance of $788.0 million-$791.0 million, compared to the consensus revenue estimate of $783.7 million. SolarWinds also updated its Q4 guidance to $0.27-0.28 EPS.

Analyst Ratings Changes

Several brokerages have weighed in on SWI. Scotiabank began coverage on shares of SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 price target on the stock. Robert W. Baird cut their price objective on shares of SolarWinds from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.80.

SolarWinds Trading Up 2.7 %

Shares of NYSE SWI traded up $0.33 during mid-day trading on Thursday, reaching $12.75. The company had a trading volume of 156,325 shares, compared to its average volume of 541,214. The business’s 50-day moving average is $12.70 and its 200-day moving average is $12.10. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 95.69 and a beta of 0.97. SolarWinds has a 52 week low of $8.98 and a 52 week high of $13.45.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $193.30 million during the quarter, compared to analyst estimates of $188.67 million. SolarWinds had a net margin of 2.96% and a return on equity of 7.14%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities analysts expect that SolarWinds will post 0.71 earnings per share for the current year.

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.