SolarWinds (NYSE:SWI) Coverage Initiated by Analysts at Wedbush

Wedbush assumed coverage on shares of SolarWinds (NYSE:SWI) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $20.00 price target on the software maker’s stock. Wedbush’s price objective indicates a potential upside of 38.41% from the company’s current price.

SWI has been the subject of a number of other reports. Robert W. Baird increased their price target on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Scotiabank started coverage on SolarWinds in a research note on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.00.

SolarWinds Price Performance

Shares of SWI opened at $14.45 on Thursday. The business has a 50-day moving average of $13.45 and a 200-day moving average of $12.64. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.94. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 65.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71.

SolarWinds (NYSE:SWI) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. During the same quarter in the previous year, the company earned $0.11 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that SolarWinds will post 0.74 earnings per share for the current year.

Insider Activity at SolarWinds

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value of $2,736,000.00. Following the transaction, the chief executive officer now directly owns 2,212,171 shares of the company’s stock, valued at approximately $30,262,499.28. This trade represents a 8.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the sale, the insider now directly owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,000 shares of company stock valued at $4,703,780 in the last three months. Corporate insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On SolarWinds

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after purchasing an additional 1,001 shares during the last quarter. Quantinno Capital Management LP raised its position in SolarWinds by 2.5% in the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock valued at $629,000 after buying an additional 1,184 shares during the last quarter. GAMMA Investing LLC lifted its stake in SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares in the last quarter. Franklin Resources Inc. boosted its holdings in SolarWinds by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock worth $386,000 after acquiring an additional 1,760 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of SolarWinds by 1.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 156,382 shares of the software maker’s stock worth $1,884,000 after acquiring an additional 1,793 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

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.