FY2024 Earnings Forecast for SolarWinds Issued By Scotiabank

SolarWinds Co. (NYSE:SWI) – Stock analysts at Scotiabank issued their FY2024 EPS estimates for shares of SolarWinds in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville anticipates that the software maker will post earnings per share of $0.75 for the year. The consensus estimate for SolarWinds’ current full-year earnings is $0.74 per share. Scotiabank also issued estimates for SolarWinds’ FY2025 earnings at $0.63 EPS.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird upped their target price on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wedbush started coverage on shares of SolarWinds in a report on Thursday, December 19th. They set an “outperform” rating and a $20.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, SolarWinds currently has an average rating of “Hold” and a consensus target price of $15.00.

SolarWinds Stock Down 1.8 %

SWI opened at $13.80 on Monday. SolarWinds has a 1-year low of $10.14 and a 1-year high of $14.94. The business has a 50 day moving average of $13.91 and a 200-day moving average of $12.94. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 62.73 and a beta of 0.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $200.03 million during the quarter, compared to analyst estimates of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of SolarWinds by 170.1% during the 3rd quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after buying an additional 59,532 shares in the last quarter. Brandes Investment Partners LP grew its holdings in SolarWinds by 12.3% in the second quarter. Brandes Investment Partners LP now owns 371,636 shares of the software maker’s stock worth $4,424,000 after purchasing an additional 40,643 shares during the period. State Street Corp increased its stake in SolarWinds by 57.5% in the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares in the last quarter. Principal Financial Group Inc. bought a new stake in SolarWinds in the 3rd quarter valued at about $3,673,000. Finally, 272 Capital LP acquired a new stake in SolarWinds in the second quarter valued at approximately $5,032,000. Institutional investors own 93.96% of the company’s stock.

Insider Buying and Selling at SolarWinds

In related news, insider Jason Bliss sold 135,000 shares of the business’s stock in a transaction on 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 owns 838,789 shares in the company, valued at $10,921,032.78. The trade was a 13.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.68, for a total value of $2,736,000.00. Following the sale, the chief executive officer now owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This trade represents a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is currently owned by corporate insiders.

About SolarWinds

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.