Robert W. Baird Forecasts Strong Price Appreciation for SolarWinds (NYSE:SWI) Stock

SolarWinds (NYSE:SWI - Get Free Report) had its price objective increased by investment analysts at Robert W. Baird from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the software maker's stock. Robert W. Baird's target price would indicate a potential upside of 13.98% from the company's previous close.

Separately, Scotiabank started coverage on SolarWinds in a report on Friday, September 13th. They set a "sector perform" rating and a $13.00 price target for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.00.

SolarWinds Stock Up 0.6 %

Shares of NYSE:SWI traded up $0.08 during mid-day trading on Friday, reaching $13.16. 2,056,339 shares of the stock were exchanged, compared to its average volume of 550,750. The stock's 50 day simple moving average is $12.72 and its 200-day simple moving average is $12.12. SolarWinds has a one year low of $9.41 and a one year high of $13.45. The company has a market cap of $2.23 billion, a P/E ratio of 101.23 and a beta of 0.97. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.92.

SolarWinds (NYSE:SWI - Get Free Report) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 2.96% and a return on equity of 7.14%. The business had revenue of $200.03 million during the quarter, compared to the consensus estimate of $194.03 million. During the same quarter last year, the firm earned $0.11 earnings per share. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that SolarWinds will post 0.71 EPS for the current year.

Institutional Investors Weigh In On SolarWinds

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of SolarWinds by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,776,309 shares of the software maker's stock valued at $69,603,000 after buying an additional 461,061 shares in the last quarter. Scalar Gauge Management LLC grew its stake in shares of SolarWinds by 11.3% in the second quarter. Scalar Gauge Management LLC now owns 834,060 shares of the software maker's stock worth $10,050,000 after purchasing an additional 85,000 shares during the last quarter. AQR Capital Management LLC lifted its holdings in SolarWinds by 48.5% during the 2nd quarter. AQR Capital Management LLC now owns 825,829 shares of the software maker's stock worth $9,869,000 after buying an additional 269,578 shares during the period. Federated Hermes Inc. raised its holdings in SolarWinds by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 560,015 shares of the software maker's stock worth $6,748,000 after purchasing an additional 2,491 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in SolarWinds by 5.3% during the second quarter. Foundry Partners LLC now owns 510,206 shares of the software maker's stock worth $6,148,000 after buying an additional 25,685 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.