SolarWinds (NYSE:SWI) Hits New 1-Year Low at $9.93

SolarWinds Co. (NYSE:SWIGet Rating) reached a new 52-week low on Tuesday . The company traded as low as $9.93 and last traded at $9.93, with a volume of 3581 shares traded. The stock had previously closed at $10.40.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SWI. Royal Bank of Canada reaffirmed a “maintains” rating on shares of SolarWinds in a research note on Wednesday. Truist Financial dropped their price target on shares of SolarWinds from $15.00 to $10.00 in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on shares of SolarWinds from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.40.

SolarWinds Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 2.13 and a quick ratio of 2.13. The company’s 50 day moving average is $11.06 and its two-hundred day moving average is $12.09. The firm has a market cap of $1.55 billion, a P/E ratio of -31.10 and a beta of 0.88.

SolarWinds (NYSE:SWIGet Rating) last released its earnings results on Tuesday, August 2nd. The software maker reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. SolarWinds had a negative net margin of 6.06% and a positive return on equity of 2.45%. The business had revenue of $176.03 million during the quarter, compared to analysts’ expectations of $175.53 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts predict that SolarWinds Co. will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its stake in SolarWinds by 0.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 122,275 shares of the software maker’s stock worth $1,735,000 after purchasing an additional 880 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of SolarWinds by 7.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 13,338 shares of the software maker’s stock worth $136,000 after buying an additional 925 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of SolarWinds by 1.1% during the first quarter. Bank of America Corp DE now owns 90,741 shares of the software maker’s stock worth $1,207,000 after buying an additional 958 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of SolarWinds by 50.0% during the first quarter. Penserra Capital Management LLC now owns 5,754 shares of the software maker’s stock worth $76,000 after buying an additional 1,918 shares in the last quarter. Finally, McCarthy Asset Management Inc. acquired a new stake in shares of SolarWinds during the first quarter worth approximately $27,000. Institutional investors own 96.54% of the company’s stock.

SolarWinds Company Profile

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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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