SolarWinds (NYSE:SWI) Given New $18.50 Price Target at Scotiabank

SolarWinds (NYSE:SWI) had its price objective hoisted by Scotiabank from $15.00 to $18.50 in a research note released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the software maker’s stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada lifted their price target on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Truist Financial reaffirmed a “hold” rating and set a $18.50 target price (up previously from $13.00) on shares of SolarWinds in a research report on Monday. Robert W. Baird raised their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wedbush lowered shares of SolarWinds from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $18.50 in a research report on Friday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

SolarWinds Price Performance

Shares of NYSE:SWI opened at $18.31 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $3.12 billion, a P/E ratio of 83.21 and a beta of 0.94. The business has a 50-day moving average of $14.56 and a two-hundred day moving average of $13.39. SolarWinds has a fifty-two week low of $10.14 and a fifty-two week high of $18.55.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after buying an additional 1,001 shares during the period. Quantinno Capital Management LP raised its position in shares of SolarWinds by 2.5% during the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock valued at $629,000 after acquiring an additional 1,184 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 during the last quarter. Franklin Resources Inc. lifted its stake in shares of SolarWinds by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after purchasing an additional 1,760 shares during the period. Finally, West Tower Group LLC boosted its position in shares of SolarWinds by 38.3% in the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 93.96% of the company’s stock.

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.