SolarWinds (NYSE:SWI) Updates FY24 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.00-1.04 for the period, compared to the consensus earnings per share estimate of $0.97. The company issued revenue guidance of $771-786 million, compared to the consensus revenue estimate of $779.51 million. SolarWinds also updated its Q2 guidance to $0.21-0.23 EPS.

SolarWinds Trading Up 1.0 %

Shares of SolarWinds stock opened at $11.70 on Friday. The firm’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $11.60. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 167.14 and a beta of 0.97. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. SolarWinds has a 12-month low of $8.50 and a 12-month high of $13.43.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. SolarWinds had a net margin of 1.58% and a return on equity of 6.33%. The business had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $190.54 million. On average, analysts forecast that SolarWinds will post 0.62 earnings per share for the current fiscal year.

SolarWinds Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, April 2nd.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Truist Financial started coverage on SolarWinds in a research note on Wednesday, March 6th. They set a hold rating and a $13.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of SolarWinds in a research report on Thursday, February 1st. They set a neutral rating and a $14.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds has an average rating of Hold and a consensus target price of $13.50.

SolarWinds Company Profile

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.