SolarWinds (NYSE:SWI) Releases Q1 Earnings Guidance

SolarWinds (NYSE:SWIGet Free Report) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.20-0.22 for the period, compared to the consensus estimate of $0.22. The company issued revenue guidance of $187-192 million, compared to the consensus revenue estimate of $191.96 million. SolarWinds also updated its FY 2024 guidance to 0.950-1.000 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial raised their price target on shares of SolarWinds from $11.00 to $13.00 and gave the company a hold rating in a research report on Friday. Royal Bank of Canada raised their price target on shares of SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a research report on Friday. TheStreet raised shares of SolarWinds from a d+ rating to a c- rating in a research report on Wednesday, December 13th. Finally, JPMorgan Chase & Co. started coverage on shares of SolarWinds in a research note on Thursday, February 1st. They issued a neutral rating and a $14.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $13.50.

View Our Latest Report on SolarWinds

SolarWinds Trading Down 1.4 %

NYSE:SWI opened at $13.09 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -261.80 and a beta of 0.98. SolarWinds has a 52 week low of $8.06 and a 52 week high of $13.43. The firm has a 50-day moving average price of $11.98 and a two-hundred day moving average price of $10.97.

Institutional Investors Weigh In On SolarWinds

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWI. Tower Research Capital LLC TRC increased its stake in shares of SolarWinds by 96.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,517 shares of the software maker’s stock worth $26,000 after purchasing an additional 1,237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of SolarWinds during the 2nd quarter worth approximately $32,000. Ensign Peak Advisors Inc purchased a new stake in shares of SolarWinds during the 3rd quarter worth approximately $40,000. US Bancorp DE increased its stake in shares of SolarWinds by 3,591.5% during the 1st quarter. US Bancorp DE now owns 4,762 shares of the software maker’s stock worth $64,000 after purchasing an additional 4,633 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of SolarWinds by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 5,754 shares of the software maker’s stock worth $76,000 after purchasing an additional 1,918 shares during the last quarter. Hedge funds and other institutional investors own 95.18% of the company’s stock.

About SolarWinds

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SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. The company offers a portfolio of solutions to technology professionals for monitoring, managing, and optimizing networks, systems, desktops, applications, storage, databases, website infrastructures, and IT service desks.

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