SolarWinds (NYSE:SWI) Releases FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.080-1.090 for the period, compared to the consensus estimate of 1.060. The company issued revenue guidance of $788.0 million-$791.0 million, compared to the consensus revenue estimate of $783.7 million. SolarWinds also updated its Q4 guidance to $0.27-0.28 EPS.

Analyst Upgrades and Downgrades

A number of research firms have commented on SWI. Scotiabank began coverage on shares of SolarWinds in a research note on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target for the company. Robert W. Baird cut their price target on shares of SolarWinds from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.80.

SolarWinds Stock Up 2.7 %

Shares of NYSE:SWI traded up $0.33 during midday trading on Thursday, reaching $12.75. The company’s stock had a trading volume of 156,325 shares, compared to its average volume of 541,214. The firm has a 50 day moving average of $12.70 and a 200-day moving average of $12.10. The firm has a market capitalization of $2.16 billion, a P/E ratio of 95.69 and a beta of 0.97. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.92. SolarWinds has a 12-month low of $8.98 and a 12-month high of $13.45.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, August 1st. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $193.30 million for the quarter, compared to analysts’ expectations of $188.67 million. SolarWinds had a net margin of 2.96% and a return on equity of 7.14%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, research analysts anticipate that SolarWinds will post 0.71 earnings per share for the current year.

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.