SolarWinds (NYSE:SWI) Price Target Raised to $18.50 at Scotiabank

SolarWinds (NYSE:SWI - Get Free Report) had its price objective increased by stock analysts at Scotiabank from $15.00 to $18.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the software maker's stock. Scotiabank's target price would indicate a potential upside of 0.95% from the company's previous close.

SWI has been the topic of a number of other research reports. Robert W. Baird lifted their price target on SolarWinds from $15.00 to $18.50 and gave the company a "neutral" rating in a report on Monday. Wedbush cut SolarWinds from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Truist Financial reiterated a "hold" rating and issued a $18.50 target price (up previously from $13.00) on shares of SolarWinds in a report on Monday. Finally, Royal Bank of Canada raised their price target on shares of SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.00.

SolarWinds Trading Up 0.1 %

SWI stock traded up $0.02 during mid-day trading on Monday, reaching $18.33. 975,536 shares of the stock traded hands, compared to its average volume of 908,687. SolarWinds has a 52-week low of $10.14 and a 52-week high of $18.55. The stock's fifty day moving average is $14.73 and its 200-day moving average is $13.47. The company has a market cap of $3.13 billion, a P/E ratio of 83.25 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.41 EPS 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%. As a group, sell-side analysts expect that SolarWinds will post 0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in shares of SolarWinds by 808.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker's stock valued at $25,000 after buying an additional 1,552 shares in the last quarter. GAMMA Investing LLC lifted its stake in SolarWinds by 344.7% in the third 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. R Squared Ltd bought a new stake in SolarWinds in the fourth quarter worth approximately $38,000. Allworth Financial LP grew its position in SolarWinds by 732.1% in the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker's stock worth $49,000 after acquiring an additional 3,331 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 purchasing an additional 1,001 shares in the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

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.