SolarWinds (NYSE:SWI) Price Target Raised to $13.00 at Truist Financial

SolarWinds (NYSE:SWIGet Free Report) had its price target increased by investment analysts at Truist Financial from $11.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Truist Financial’s price target points to a potential downside of 0.69% from the stock’s previous close.

SWI has been the subject of a number of other reports. TheStreet raised shares of SolarWinds from a “d+” rating to a “c-” rating in a research report on Wednesday, December 13th. Royal Bank of Canada increased their price target on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. assumed coverage on shares of SolarWinds in a research report on Thursday, February 1st. They issued a “neutral” rating and a $14.00 price target for the company. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.50.

Check Out Our Latest Research Report on SolarWinds

SolarWinds Stock Performance

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

Hedge Funds Weigh In On SolarWinds

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in SolarWinds by 1.1% during the first quarter. Bank of America Corp DE now owns 90,741 shares of the software maker’s stock valued at $1,207,000 after acquiring an additional 958 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in SolarWinds by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,655 shares of the software maker’s stock valued at $249,000 after purchasing an additional 1,002 shares during the last quarter. Trexquant Investment LP grew its stake in shares of SolarWinds by 3.6% in the fourth quarter. Trexquant Investment LP now owns 31,898 shares of the software maker’s stock worth $398,000 after acquiring an additional 1,106 shares during the last quarter. Sei Investments Co. grew its stake in shares of SolarWinds by 4.7% in the fourth quarter. Sei Investments Co. now owns 25,651 shares of the software maker’s stock worth $240,000 after acquiring an additional 1,163 shares during the last quarter. Finally, American International Group Inc. grew its stake in shares of SolarWinds by 5.2% in the second quarter. American International Group Inc. now owns 24,528 shares of the software maker’s stock worth $252,000 after acquiring an additional 1,221 shares during the last quarter. Institutional investors own 95.18% 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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