SolarWinds (NYSE:SWI) Sets New 52-Week High on Earnings Beat

SolarWinds Co. (NYSE:SWI) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $19.00 and last traded at $18.33, with a volume of 148 shares traded. The stock had previously closed at $18.31.

The software maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial reissued a “hold” rating and issued a $18.50 price target (up from $13.00) on shares of SolarWinds in a research note on Monday. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Robert W. Baird increased their target price on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research note on Monday. Royal Bank of Canada lifted their price target on shares of SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Scotiabank increased their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.00.

Institutional Trading of SolarWinds

Several hedge funds have recently bought and sold shares of the business. Barclays PLC increased its position in shares of SolarWinds by 170.1% during the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after acquiring an additional 59,532 shares in the last quarter. Pacer Advisors Inc. increased its holdings in SolarWinds by 18.5% during the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock worth $235,000 after purchasing an additional 2,574 shares in the last quarter. State Street Corp raised its stake in shares of SolarWinds by 57.5% in the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after purchasing an additional 800,467 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of SolarWinds in the third quarter valued at approximately $3,673,000. Finally, Villanova Investment Management Co LLC boosted its position in shares of SolarWinds by 42.8% during the third quarter. Villanova Investment Management Co LLC now owns 149,709 shares of the software maker’s stock valued at $1,954,000 after buying an additional 44,839 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Price Performance

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 cap of $3.13 billion, a P/E ratio of 83.30 and a beta of 0.94. The company has a fifty day moving average of $14.73 and a 200-day moving average of $13.47.

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.