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

SolarWinds (NYSE:SWIFree Report) had its price target boosted by Truist Financial from $11.00 to $13.00 in a research report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the software maker’s stock.

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

Read Our Latest Stock Analysis on SWI

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.

Institutional Trading of SolarWinds

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of SolarWinds by 96.6% in the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in SolarWinds during the second quarter valued at approximately $32,000. Ensign Peak Advisors Inc bought a new position in SolarWinds during the third quarter valued at approximately $40,000. Allspring Global Investments Holdings LLC raised its position in SolarWinds by 118.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,461 shares of the software maker’s stock valued at $52,000 after acquiring an additional 2,957 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in SolarWinds during the fourth quarter valued at approximately $57,000. 95.18% of the stock is owned by hedge funds and other institutional investors.

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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