SolarWinds (NYSE:SWI) Reaches New 52-Week High on Strong Earnings

SolarWinds Co. (NYSE:SWI) shares hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $19.00 and last traded at $18.33, with a volume of 148 shares trading hands. The stock had previously closed at $18.31.

The software maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Truist Financial reissued a “hold” rating and issued a $18.50 price objective (up previously from $13.00) on shares of SolarWinds in a research note on Monday. Scotiabank boosted their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “sector perform” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird boosted their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SolarWinds has an average rating of “Hold” and a consensus target price of $18.00.

Hedge Funds Weigh In On SolarWinds

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew 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 worth $66,000 after purchasing an additional 1,001 shares during the last quarter. Quantinno Capital Management LP grew its holdings in SolarWinds by 2.5% in the third quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock worth $629,000 after purchasing an additional 1,184 shares during the last quarter. Sterling Capital Management LLC grew its holdings in SolarWinds by 808.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker’s stock worth $25,000 after purchasing an additional 1,552 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SolarWinds by 344.7% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after buying an additional 1,603 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of SolarWinds by 6.2% during the third quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after buying an additional 1,760 shares during the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

SolarWinds Stock Up 0.1 %

The stock has a market capitalization of $3.13 billion, a PE ratio of 83.30 and a beta of 0.94. 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 business’s fifty day moving average price is $14.80 and its two-hundred day moving average price is $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.