SolarWinds (NYSE:SWI) Releases Q1 Earnings Guidance

SolarWinds (NYSE:SWIGet 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.

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SolarWinds Stock Performance

Shares of SWI stock opened at $13.09 on Friday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -261.80 and a beta of 0.98. SolarWinds has a 1-year low of $8.06 and a 1-year high of $13.43. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $11.98 and its 200-day simple moving average is $10.97.

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

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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.

Further Reading

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