SolarWinds (NYSE:SWI – Get 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
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on SolarWinds in a report on Thursday, February 1st. They issued a neutral rating and a $14.00 target price on the stock. TheStreet upgraded SolarWinds from a d+ rating to a c- rating in a report on Wednesday, December 13th. Royal Bank of Canada lifted their target price on SolarWinds from $13.00 to $15.00 and gave the stock a sector perform rating in a report on Friday. Finally, Truist Financial lifted their price target on SolarWinds from $11.00 to $13.00 and gave the company a hold rating in a report on Friday. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SolarWinds has an average rating of Hold and a consensus target price of $13.50.
SolarWinds Stock Performance
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new position in SolarWinds in the 1st quarter worth about $157,000. State Board of Administration of Florida Retirement System bought a new stake in SolarWinds during the 2nd quarter valued at approximately $148,000. Bridgefront Capital LLC bought a new stake in SolarWinds during the 1st quarter valued at approximately $141,000. Jane Street Group LLC boosted its stake in SolarWinds by 19.3% during the 3rd quarter. Jane Street Group LLC now owns 16,238 shares of the software maker’s stock valued at $126,000 after purchasing an additional 2,623 shares during the period. Finally, Barclays PLC boosted its stake in SolarWinds by 535.1% during the 4th quarter. Barclays PLC now owns 13,006 shares of the software maker’s stock valued at $121,000 after purchasing an additional 10,958 shares during the period. 95.18% of the stock is 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. 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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