Scotiabank Issues Positive Forecast for SolarWinds (NYSE:SWI) Stock Price

SolarWinds (NYSE:SWI) had its price objective increased by research analysts at Scotiabank from $15.00 to $18.50 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the software maker’s stock. Scotiabank’s target price points to a potential upside of 0.84% from the company’s previous close.

A number of other research analysts have also weighed in on SWI. Robert W. Baird upped their price objective on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a report on Monday. Truist Financial reiterated a “hold” rating and issued a $18.50 price target (up from $13.00) on shares of SolarWinds in a report on Monday. Royal Bank of Canada boosted their target price on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Wedbush downgraded SolarWinds from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $18.50 in a report on Friday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

SolarWinds Stock Performance

SWI traded up $0.04 during trading on Monday, hitting $18.35. The stock had a trading volume of 338,843 shares, compared to its average volume of 758,286. SolarWinds has a twelve month low of $10.14 and a twelve month high of $18.55. The firm has a market capitalization of $3.13 billion, a P/E ratio of 83.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50-day moving average price is $14.47 and its 200 day moving average price is $13.35.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SWI. Fisher Asset Management LLC bought a new stake in SolarWinds during the fourth quarter worth approximately $13,886,000. State Street Corp raised its stake in shares of SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after buying an additional 800,467 shares in the last quarter. Venturi Wealth Management LLC bought a new position in SolarWinds during the fourth quarter valued at about $7,446,000. Great Lakes Advisors LLC acquired a new position in SolarWinds during the fourth quarter worth about $5,147,000. Finally, Principal Financial Group Inc. bought a new position in shares of SolarWinds in the third quarter valued at $3,673,000. 93.96% of the stock is currently owned by 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.