SolarWinds (NYSE:SWI) Price Target Raised to $15.00

SolarWinds (NYSE:SWI) had its price objective lifted by Scotiabank from $13.00 to $15.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the software maker’s stock. Scotiabank’s price objective indicates a potential upside of 4.42% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird boosted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Wedbush began coverage on SolarWinds in a research note on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.50.

SolarWinds Price Performance

Shares of SWI traded up $0.32 during trading hours on Tuesday, hitting $14.37. The stock had a trading volume of 116,149 shares, compared to its average volume of 397,723. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 65.30 and a beta of 0.94. 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 company’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.02. SolarWinds has a 52 week low of $10.14 and a 52 week high of $14.94.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts anticipate that SolarWinds will post 0.74 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sudhakar Ramakrishna sold 200,000 shares of SolarWinds stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the transaction, the chief executive officer now owns 2,212,171 shares in the company, valued at $30,262,499.28. The trade was a 8.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 16,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 351,000 shares of company stock valued at $4,703,780. Company insiders own 1.95% of the company’s stock.

Institutional Trading of SolarWinds

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in shares of SolarWinds by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 64,435 shares of the software maker’s stock worth $776,000 after purchasing an additional 9,186 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of SolarWinds by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker’s stock worth $69,603,000 after buying an additional 461,061 shares during the period. Renaissance Technologies LLC grew its stake in shares of SolarWinds by 5.6% in the second quarter. Renaissance Technologies LLC now owns 493,200 shares of the software maker’s stock worth $5,943,000 after purchasing an additional 26,010 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of SolarWinds by 8.1% during the second quarter. Thrivent Financial for Lutherans now owns 117,163 shares of the software maker’s stock valued at $1,413,000 after purchasing an additional 8,799 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in SolarWinds during the 2nd quarter valued at about $395,000. 93.96% of the stock is currently owned by institutional investors and hedge funds.

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.