Scotiabank Weighs in on SolarWinds FY2024 Earnings

SolarWinds Co. (NYSE:SWI - Free Report) - Analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of SolarWinds in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Colville anticipates that the software maker will earn $0.75 per share 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.

SolarWinds (NYSE:SWI - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS.

Several other research analysts have also recently weighed in on the company. Wedbush assumed coverage on SolarWinds in a research note on Thursday, December 19th. They issued an "outperform" rating and a $20.00 price target for the company. Robert W. Baird boosted their target price on SolarWinds from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, SolarWinds has a consensus rating of "Hold" and a consensus target price of $15.00.

SolarWinds Stock Down 1.8 %

Shares of NYSE:SWI traded down $0.25 on Monday, hitting $13.54. 344,985 shares of the company traded hands, compared to its average volume of 501,606. The stock has a 50 day simple moving average of $13.91 and a 200-day simple moving average of $12.94. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.31 billion, a PE ratio of 61.55 and a beta of 0.94. SolarWinds has a 52 week low of $10.14 and a 52 week high of $14.94.

Institutional Trading of SolarWinds

A number of hedge funds and other institutional investors have recently bought and sold shares of SWI. Allspring Global Investments Holdings LLC grew its stake in shares of SolarWinds by 24.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker's stock valued at $66,000 after acquiring an additional 1,001 shares during the period. Quantinno Capital Management LP boosted its position in shares of 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 period. GAMMA Investing LLC increased its stake in shares of SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker's stock worth $27,000 after purchasing an additional 1,603 shares in the last quarter. Franklin Resources Inc. raised its position in shares of SolarWinds by 6.2% during 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 raised its position in shares of SolarWinds by 38.3% during the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker's stock valued at $94,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 93.96% of the company's stock.

Insider Buying and Selling

In other SolarWinds news, Director William G. Bock sold 16,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now directly owns 88,857 shares in the company, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jason Bliss sold 135,000 shares of SolarWinds 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 transaction, the insider now owns 838,789 shares in the company, valued at $10,921,032.78. This represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 351,000 shares of company stock valued at $4,703,780 over the last 90 days. Company insiders own 1.95% 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.